looking at the market we made a all time high and I will expect a move to the down side. it might be a quick one.
knowing how much to loose before enter.
blue line entry zone and green line target 1 and 2.
Its been over 3 months since we had 3 loosing days in row (red day).
We are approaching an important resistance area. Not Shure of future market direction. Intuition calls for trend following.
Use the 20-MA in 5 or 2 minutes to get entry (bouncing / rejection ) with the moving average.
Green line targets.
Looking at NQ we are approaching the bottom part of a range in 4 - 2 - 1HR
if going long wait for a bounce in the blue line and green lines are targets
if looking of for a short a fast move to the down side blue line is target, and use a 5 min close below the 20 ma to Get in.
it seems that we are in the low part of the range.
wait until the 9:30 bell for making a move.
if the bottom has already been reach use the 20 ma and a 5 min closing candle to continue the move, or wait for a new low to get in.
blue lines are possible entry and green are targets.
we have seen a possible top of the range. news are not strong enough today for a new all time high.
using. a 20ma we could fin a bounce since the top has been made to continue the move down.
targets in green.