Plan the Trade

NQ keeps getting dragged up overnight in Asian trading. Question is, will it grind up in an Instie day, or (i feel more likely) close the gap from yesterday and revisit poc - which looks to be the last area of consolidation before breakout (so pullback area on a bigger scale);

I find it interesting how the volume and time profiles usually end up with similar value areas and poc's when the whole prior week's data is merged;

When to take profits?!



Locking in 20, but it's bloody difficult holding on... I really think we will close gap from yesterday, but...

*Edit* closed +50

Great NFP play here at 8:35. I didn't take it because I wasn't watching the chart, but the set-up was 100%

you guys are good I have same levels including those HVN kudos MC and CG

Closing the gap is looking to be the plan, but we shall see.

I put lines in just before I went to bed last night

and i grabbed another quickfire +8

you took the long off bottom of valley right? if so you could have taken it to HVN for at least 20

No - i should have... I took a pullback short and grabbed as above ^^^

*Edit* just took a -10. Need to calm down, market hasn't even opened yet!

after looking at profile we are out of value area and there is a few gap valleys and hvn a lot of lines on chart that are 20 ticks apart that looks like the play today

Nice chart. My data feed seems to be a tick out, frequently, in both directions, which is annoying.

heres updated chart with bottom of the valley gaps include

Utterly horrendous PA... have given back most of the early gains. Euphoria took over...

Yes. Today's moves were too strong after 0930 and not great for scalping with small SL's.

I played those levels and I am glad I added them 8 trades in 45 minutes talk about action

Heres something I just jotted down what needs to be done is before market open we should examine all sides of profile either volume or tpo for value area . thats is done by what price action has showed before market opens and then use either of the volume or tpo not both. then see are there valleys and use bottoms and then hvn it seems most of my trades lately have been off the levels not so much 123 or 2bs so dont just be locked in we have asortment of entrys in which to use we are support and resistence type traders now but also pullback traders when warranted

Good stuff D. I was just looking back at my day which was horrific and I was definitely on tilt, but we both had very similar levels in play. I know our methods are different some too, but thinking about my mental state and morning routine/preparation and that's where I failed today.

This is why I should've stayed out of the market today:

1- I went to bed late last night and woke up early and in a bad mood
2- Yelling at the kids this morning on the way to school because of #1 above which didn't put me in the right mind
3- Did not do my usual pre-market review and analysis so I decided to just wing it.
4- It's NFP day and market is moving in large points. My method works better with tighter SL.
5- I was not alert because of #1 above and had hesitation and horrible execution of entry. This then led to more gambling than actual intentional set-up trades. Did not follow rules because I wanted to be in the fast moving market to catch my ++++

I find myself struggling to over-ride my overall EW view and yet when it lands, it can rack up a serious amount of points - mainly because once i recognise a move as being 'corrective' (abc) it means new highs (long) to follow (and then some). Obviously we have a very strong uptrend overall and have done for quite some time.

How many times have i posted a fresh HH in the shape of a C&H on this thread? and then it goes on to do this;



The problem is getting the trade away with any degree of confidence to begin with. The first 'HH' marked in the chart helped me onto adding +31 later on, but this only rescued the day..... and after a hell of a start too. I'm almost left here scratching my head. But there lies my point. I need to concentrate fully on trading off of the profile and grabbing each 20 odd points that comes along. H shows us that +100 odd is not so difficult when everything lines up...