I continued staying away from NQ today. I did not find any good setup before lunch hour. There was no clear strength shown from bulls and bears. NQ indeed made a reversed in the mid day.
[photopress:NQ5minfulldaynotrade23Jan2007.jpg,thumb,alignleft]
Now, I am kinda sitting for another test. Patience. This is another thing I have learnt from my experience. I am still very keen in learning Options trading. [Read more…] about Still no trade: Testing Patience
I am looking at NQ. We have some selling in the premarket. From daily chart of Nasdaq, I am interested in watching if we can stay above trend line. From 60 min chart of NQ, we are still in downtrend with Adjusted TRIN stays negative and from buyer/seller indicator, sellers are still dominating.
Previous High: 1813
Previous Low: 1783.25
Slightly negative view, but I doubt bears are strong enough. Let’s see.
[photopress:dailychartcashmarket.jpg,thumb,alignleft][photopress:NQ60minafterclose.jpg,thumb,alignleft]
by Gav 6 Comments
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That was a boring day for NQ trading. Though it did break the support level that I was looking at, I have no valid entry setup after that. I called it a day around lunch hour. No trade. Here is the full picture after closing bell.
[photopress:NQfulldaynotrade.jpg,thumb,pp_image]
I do not intend to start another strategy for Futures trading now, instead I will stay with my current style of trading , be patient to wait for opportunity and complete my 100 dummy trades. As a supplement to my trading, I am starting my stocks options trading studies. Basically I know nothing about Options. So I will start seaching for reading articles, books and trading strategies. As usual, all educational materials will be posted here.
I am looking at NQ. We have some buyings in premarket, however, I am not really positive for the moment. Daily charts, we had a small range candle last Friday, and closed at moving average. 60-min chart, we are at support level 1800.75, and it is kinda negative from the view of Adjusted TRIN and Buyer/Seller indicator.
I am waiting for the break of the support level before start looking at short opportunities.
[photopress:NQdaily.jpg,thumb,alignleft][photopress:NQ60min_opening.jpg,thumb,alignleft]
by Gav
I thought I might have chance to establish a long position of NQ before lunch, well, pattern failed to form. No trade for this Options expiration Friday.
This week, I did not achieve my target. Only two trades were made with 1 break even and 1 loser. It was a short week with options expirations going on. But these should not be the excuse for this result. I guess the possible problem might the trade on 17-Jan-2007 , I was too eager to entry a trade while it was still in trading range.
Anyway, it doesn’t help to think too much over the weekly result, as there were just two trades made.
Summary
I will be traveling to Malaysia tomorrow, so no posting over the weekend.Have a good one.
