IngW NasdaqTrader
2023-05-06

NQ1! NAS100 NASDAQ 2023 MAY 08
$E-mini Nasdaq 100 - main 2306(NQmain)$
NQ scenario 4, rotational trade yielded 470pts from 3 trades.
Test and Reject/Accept setups consistently offers low risk trades.

NQ was in rotation for a month now.
Friday saw a low volume mark up, and could be trapping longs.
Previous scenario planning remains.
Given the rotation has progressed thus far, inexperienced traders should just wait.
CAPS FOR EMPHASIS-MY TENDENCY TO TRADE SCENARIO4 WILL NOW BE DIMINISHED.

Possible scenarios:
1) Market stuck in a 250pt range, wait till supply/demand is resolved
Then:
2) Breakout of upper boundary to test 13740 = long at support of upper boundary of range
3) Breakdown of lower boundary of range = Short on rejection of 12950
4) The longer the rotation, the riskier will be rotational trade.
Long on support between 12950-13040 | Short on rejection between 13350-13212

Volume Analysis:
Friday's mark up on average volume, with close away from the high, is weakness on the bar.

Price reaction levels:
Short on Test and Reject | Long on Test and Accept

14361 13740 13350
13316 12950 10710 - 11068

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Have a profitable trading week ahead.
*For educational purpose only.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment（4）

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  • CaesarHicks
    ·2023-05-07
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    There is a high risk for $NQ100指数主连 2306(NQmain)$ to down again.

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    • IngW NasdaqTrader: 
      to clarify - is it High risk or probability that you meant? When market at resistance, nornally the probability of a downward movement is higher.
      2023-05-08
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  • Guy
    ·2023-05-07
    TOP

    Shall we take short on $NQ100指数主连 2306(NQmain)$ at this time?

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  • IngW NasdaqTrader
    ·2023-05-08
    Short at rotation zone high is ok, as long as you set your stop. Personally, as I mentioned, Im less inclined now to tske rotational zone trade since itbhas been a month now that market has been in rotation, the probability of a successful trade has dininished.Tuesday’s market is good for trading. Money observe what the Us market do.
    My trade statistics showsTuesdays/Thursdays are better trading days.
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