Plan the Trade

I quess the game plan is if we open above extremes and price continues to drive we have institutional trading just trade the pullbacks and join them

interesting .. my vl is at 5866.25:

remember to stay with june contract theres more volume than the new one

This may or may not be market mover comey testifies in 45 minutes trade cautously

Good day;

Started with watching not one but two decent reactions off of prev ATH, then had a +1 short, got a better entry and held for +26, but should have held out longer in honesty as next line was still some distance below;



Sat and watched the rise clean off of 79 (gap fill and V high). Normally i would have placed limit at the line, but determined to try to wait for an actual set-up, so gutted that i missed it.

Saw the 123 at HOD (88ish) but it triggered and simply dropped off a cliff printing a 38 odd tick candle

Took a pullback short for another 17 and calling it a day +44, 3 trades;



Could have and should have been another 40 odd on top.

though I setup profile wasn't totally thrilled with it so had 4 trades then stopped as market was very volatile and comey was to testify at 10am

I do not know much about EW, but the pattern we see at 9:34 in Divergence's chart matches what Cableguy was talking about yesterday. It played out exactly the way CG says it does. Good stuff CG!

hey capstone or should I say tony

You got it H! :-)

No trading yesterday or today for me with work stuff getting in the way, but I was just looking back at a replay for yesterday. Small stops would be stopped out quickly so I think it would have been a great grab and go day.

Anyway, here's a beautiful ideal set-up in my mind that would have been waiting if I had the patience to watch it unfold. A 123 had just set-up signalling trend change where price turned just under the POC. The pullback into #3, touch of the HVN and subsequent close of the candle back below the #3 level was a great signal! Looking left, this number #3 had rapid selling the last time price was in this area too.

to me its the HAT pattern or h and s or 2b followed by a 123 so when 2b breaks a pullback in this case to the level was in order. different names same pattern/setup

top work guys .. mixed day for me .. missed that first short

Still looking at yesterday's replay. I caught this set-up and took the long. I do much better patiently watching for quality set-ups at the levels versus the euphoria trades and trying to catch the speedy market. That's when the whipsaw comes out and crushes me.

Another from the replay. I missed this one, but analyzing it.

I'm noticing trading with the trend is powerful when all 3 of these things happen:

1- Pullback to the #3 with price touching/probing
2- the same candle also touches/probes a price level.
3- This same candle closes back above or below both the #3 and the price level in the direction of the trend.

Based on just a few examples I've looked at, when all 3 of those things happen at the same time on the same candle, it's powerful!

All good stuff MC. It's not so long ago, i was trading many different FX pairs and index's. I never even glance at anything other than the NQ anymore. I've never seen anything trend the way it does, not just for total of mileage covered, but with regards to pullbacks too.

Add the profile data and this is as good as it gets. The fact that we can have predefined lines drawn on our charts already before the session starts and then to see how PA reacts at the levels is fascinating. The final piece is to see which candles are printing at each level for an extra clue.

I've always liked candle patterns as a means to trade, but on their own, i don't think they can be consistent enough. What might be a hammer on one timescale, will be a different candle on another etc.... but add them into the mix off of a level and they give a much greater idea of whether buyers or sellers are in control.

I took a couple of pullback trades a little earlier and although i got a strong reaction in my favour long off of entry, the next candle, turned red with no wick and you just knew that was all it would give. I still sat and watched as it came down and took my +1, but i got a better entry at a second position and it did exactly the same again - a strong reaction upon fill, but the next candle didn't have any follow through, this time i grabbed +7 and sure enough it came back down and continued lower....

I am telling you 123 2b and pullback setups at these levels are smoking hot

Do you usually use these pullback setups at VAL, VAH and where you have a HVN with large valleys either side?

Vaping hot Harold :-)

contract switch to nqu7

My levels for today based on Sept contract. So far we are still have HH's and HL's with a flag formed. Price may test the high again?