Indices gapped down this morning. MNQ displayed relative strength. Shorted 10 contracts at 11646.50 where the standard deviation high (yellow line) and 3 min 21 EMA coincided with a 30 second overbought stochastic. Price shot up to close the morning gap before it started to reverse. Exited 5@11626.20 at the… Read more“Being Stubborn”
Month: October 2020
Three Trades
Made 3 trades today trading MNQ all to the long side. Batted 1 for 3 and ended with a loss of $186. Price action off the open was strong with a large delta on the first 3 min candle as it broke the pivot of 1701.50. Bought the pullback off… Read more“Three Trades”
Consolidation Day
After a massive up day yesterday, one expects rotational price action the day after. Except for NQ, the three other indices gapped down with RTY being the weakest. I initially wanted to buy the dip at 1621.80 but price didn’t reach the entry. Entered short 2@1633.7 on the bounce up… Read more“Consolidation Day”
Small Gain
After a big up day yesterday, I expected more rotational action today. Shorted 2 YM@28164 where there were three levels of resistance, one of them being the 1.272 extension from the previous swing low. Many times when price reaches the 1.272 or 1.618 extension, it signals a potential reversal. Exited… Read more“Small Gain”
Fugly Friday
Took two short trades today and got bitch slapped by the short squeeze off the gap down open due to the news that POTUS has COVID. How is that possible? We all know COVID is fake news. I digress. Had 3 levels of resistance around the 1510 area in RTY…. Read more“Fugly Friday”