NAS is pushing into the completion zone the of larger compound corrective (AB=CD) move. Has confluence with then longer term trend line and the 236 Fib measured from the Sep 21/20 low. I will be watchin for a lower time frame reversal pattern. Looking for a move back up into 14750 area.
Note
Got the overnight move into 14743. Now looking for a double bottom out of the lows for a second trade. A break above the 14743 pivot could yield a big move.Note
In long again. Trailing stops. Just giving an example of how I scalp the futures intra day. Identify high probability reversal zones.. wait for lower time frame reversal patterns to confirm. In this case the trigger was higher higher/higher close on the 5minute at exhaustion support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.