Happy Tuesday, Happy PMI Day,
NASDAQ is now sandwiched between 10 DMA at 13 374 & 100 DMA at 12 659. Headwinds are getting stronger for NDX since it has broken below June 3 high. Bears want to bring it below 12 700 to regain control and bulls would like to push it back above 13230 to continue rally.
Welcome to an unstable market. Those who are old enough to have experienced or wise enough to have studied the market of DOT COM burst will know exactly what I am talking about
Macro EU ECB Panetta Speech, Consumer Confidence, US PMI, Home Sales
Buy
Break: 12 940, 13 010, 090
Reversal: 12 875, 790, 670, 580
Sell
Break: 12 885, 800, 695
Reversal: 12 960, 13 020, 110, 230
I regularly publish my daily analysis & trading plan for day trading setups. The links are here:
Green Goblin levels are here >>>
Fibonacci Confluence levels are here >>>
NASDAQ is now sandwiched between 10 DMA at 13 374 & 100 DMA at 12 659. Headwinds are getting stronger for NDX since it has broken below June 3 high. Bears want to bring it below 12 700 to regain control and bulls would like to push it back above 13230 to continue rally.
Welcome to an unstable market. Those who are old enough to have experienced or wise enough to have studied the market of DOT COM burst will know exactly what I am talking about
Macro EU ECB Panetta Speech, Consumer Confidence, US PMI, Home Sales
Buy
Break: 12 940, 13 010, 090
Reversal: 12 875, 790, 670, 580
Sell
Break: 12 885, 800, 695
Reversal: 12 960, 13 020, 110, 230
I regularly publish my daily analysis & trading plan for day trading setups. The links are here:
Green Goblin levels are here >>>
Fibonacci Confluence levels are here >>>
Trade closed: target reached:
Trade 1: Bullish engulfing crossing yellow box above Green Level F. Entry on retracement
#LongTrade 12816
SL 20 pts
TP1 3:1 ✅ 60 pts
TP2 6:1 ✅ 120 pts
TP3 3:1 ✅ 60 pts (stopped out) 🛑✋🏽
Total 240 pts on 3 lots. Average 80 pts with risk of 20 pts. That's 4R/4X/4:1
#LongTrade 12816
SL 20 pts
TP1 3:1 ✅ 60 pts
TP2 6:1 ✅ 120 pts
TP3 3:1 ✅ 60 pts (stopped out) 🛑✋🏽
Total 240 pts on 3 lots. Average 80 pts with risk of 20 pts. That's 4R/4X/4:1
Trade closed: stop reached:
Trade 2: Bearish reversal on yellow box above Green level E. Entry on retracement
Short Trade 12898
SL 20 pts 🛑✋🏽stopped out
Losing trade but as per the plan so no regrets
Short Trade 12898
SL 20 pts 🛑✋🏽stopped out
Losing trade but as per the plan so no regrets
Trade closed: target reached:
Trade 3: Bearish engulfing + bearish breakdown of yellow box at green level D. Entry on retracement
#ShortTrade 12934
SL 30 pts
TP1 3:1 ✅ 60 pts - Stop to entry
Stopped out 🛑✋🏽at entry on 2/3rd position. No loss
Exactly as per the plan so again no regrets. Turning out to be a difficult day
#ShortTrade 12934
SL 30 pts
TP1 3:1 ✅ 60 pts - Stop to entry
Stopped out 🛑✋🏽at entry on 2/3rd position. No loss
Exactly as per the plan so again no regrets. Turning out to be a difficult day
Find my daily analysis + trades live & FREE 🆓 💰
👉🏼https://twitter.com/trading_indian
Learn my strategy and get indicators & tools 👉🏼https://www.tradingindian.com
👉🏼https://twitter.com/trading_indian
Learn my strategy and get indicators & tools 👉🏼https://www.tradingindian.com
My trading plan works on 3:1, 6:1 & 9:1 basis
Overall 3 trades. 2 Winning trades + 1 losing trade
240 - 60 + 60 = 240 pts on 4 positions. That's 60 pts per position with 20 pts risk giving R/R of 3:1
The levels played out well. Here is the zone chart
This is Green Goblins chart
This is Fibonacci Confluence chart