NAS100: First red day, Friday day 3

23 ago

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range ✅
  

2. SIGNAL DAY

• First Red Day ✅
  
• First Green Day
  
• 3 Days Long Breakout
  
• 3 Days Short Breakout
  
• Inside Day
  

3. WEEKLY TEMPLATE

• Pump&Dump ✅
  
• Dump&Pump
  
• Frontside
  
• Backside ✅
  

4. THESIS:

• Long: at the moment I'm not interested, Asia and London are already pumping, I won't buy up high.
  
• Short: primary, first red day, long traders still in profit since monday, there are still good chances for this market to setup for a sell high opportunity if after the 10am MRN the price will lock the HOD or any other important level.
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

26 ago

Nota

The market on Friday closed as an inside day, the previous thesis to me, is still valid if setup correctly.

Currently Asia and London pumped the price but no boundaries has been triggered yet, I consider nas100 still inside the previous range.

I will be waiting for the HOD to be triggered for further market update