NQ- the big short

2021年3月8日

NQ in particular due for big pullback/correction as tech sector is severely overbought.

Reasons for further downtrend
- descending wedge which may likely hold price action for quite some time. bottom edge of wedge is lower side of parrallel channel.
- descending triangle which is a continuation pattern very often.
- weak pivot.
- incredible RR ratio.
- with trend trade.

2021年3月9日

ノート

Now I enter here again at 12443.50 short

2021年3月9日

ノート

I move this up here. I post in wrong place. Dumb redhead! Lol

So in this trade I enter and exit twice now. This is no thing I like to do but for this plan I feel need too. NQ undecided. I feel I can exit with some profit and then re-evaluate and entry/trigger for short. This is a short plan so I look again for short entry. I do no enter long because this is not a long plan. Sometimes I will draw plan for both long and short trigger but this be not one of those. My 2 trades so far be:

12563.75-12476.75= 348
12578.00- 12424.50 = 614
= 962 tick profit

Now looking for short entry again. I like to see confluence for this: these are scenario:

1. Heads and shoulder- wait for break of below neckline to enter or enter on retest of neckline. This does not valid if break below neckline and break above. Remember this is not plan for a long position.

2. Enter on retest of top of descended triangle. Descended triangle often continuation pattern- so downtrend continuation

3. Retest of 20 MA. This is confluence with top of triangle.

Where to enter?
A. All 3 points to average down. I do no like this option as average down usually ask for trouble.
B. At 20 MA. This Is probably safest. Good confluence with top of triangle. Little risk of missing out
C. At top of triangle. Smallest potential loss with big RR. Risk of missing out on entry. High risk of stop out with pretty small stop
D. Very conservative is break below head and shoulder. This be confirmation of continue downtrend. No risk of missing out, but limiting profit somewhat

I like option B and D best.

Let me know your thoughts too. Hit like if this is interested post for you or you make money on my plan so far. If you make money with any of my plan all I ask is simple. Hit like :)

Also see my last Gold (GC) plan. It is valid still though I do not take entry so far

Ms. Bunny

2021年3月9日

ノート

I did end up taking a position at 12443.50 and was stopped out at 12480.

My stop was my entry for option C. I figured I could either exit at this point and re enter if it continued to look bearish or stay out for a very small loss if it was looking bullish. The latter scenario was the case and I took a very small loss of 146 ticks.

Total profit on this trade 962 tick profit - 146 tick loss = 816 tick profit

I will keep an eye on NQ