NQ DT 02/09/10

black

1. big gap open, possible up trend day, look for buy setups.
2. breakout pullback, second entry, long higher high here.
3. fake breakout and failed high 2 long from bar 2. the rally from 2 looked strong but market was rejected at day's high. bulls are trapped, once you feel one side is trapped, move to the other side will be violent and at two-legged.
4. it's very tricky here, this looks like breakout pullback to EMA, or a double bottom pullback, but the retreat from bar 3 was strong strong with 5 consecutive bear bars, plus looks like bulls are trapped at 3, better wait for second entry (second higher high) to long  here. but i won't short here either because the trend was up. when it is not clear, better wait for more price actions.
5. here is the second leg down. note if you take long at bar 2, your stop loss most likely will be one tick below bar 2. drop to bar 5 took out most bulls' stop loss.
6. news came out, bail out Greece likely. second entry to long. bears had to cut their shorts and previous stopped out bulls had to buy their longs back. market went up strongly. also, looks like a double bottom.
7. breakout pullback. it's also the second time the market wanted to breakout day's high. next bar higher high was a good long entry.
8. another news came out, bail out not likely (kao). similar story, bulls trapped, cut their losses. but again, i won't short here since the uptrend still untagged.
9. chopping rest of the day around EMA. the best action was to fade small bar or doji bars on the high and low of the range, but only scalps.

股海无涯

沙发！

happyface

先顶在学习.

abaqus

NQ chart looks better than ES chart. Thanks

Do you think adding some premarket bar will help DT?

black

NQ chart looks better than ES chart. Thanks

Do you think adding some premarket bar will help DT?
abaqus 发表于 2010-2-9 17:27

i look another 24 hr 15 min chart and draw pre-market ranges.  but when the market open, i only look at this 5 min chart.

coexist

abaqus

5# black


Thanks. It makes great sense for me.

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ChuChu888

Thanks.

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revolver

atrader

thanks

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windy

Thanks。
这个一定要学！

5i5j

Thanks!!!

开小差

thx, ding

man_student

Thanks

richer

Learn from you!