I got smoked shorting the MNQ today. And it was avoidable.
The MNQ1! and the MES1! were flashing warning signs since the Sunday open to NOT fade the move. I stayed off the sell side for the opening 30 minute candle, but then got sucked in at a level. The entry was a violation of one of the Golden Rules of Range Trading - STAY AWAY from Outside Days!
In this video, I discuss how to identify Outside Days and look for Untested Prior Session POCs as signs that conditions are pointing to trending price action.
The MNQ1! and the MES1! were flashing warning signs since the Sunday open to NOT fade the move. I stayed off the sell side for the opening 30 minute candle, but then got sucked in at a level. The entry was a violation of one of the Golden Rules of Range Trading - STAY AWAY from Outside Days!
In this video, I discuss how to identify Outside Days and look for Untested Prior Session POCs as signs that conditions are pointing to trending price action.
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