Top of the Morning HOUSE! I hope everyone is enjoying their weekend and staying productive... I have developed this NQ SHORT as Buyers swept the Market HIGH and Sellers came in and dropped the market underneath a HUGE Daily Resistance Level...Here is what I want to see to go SHORT and catch this TXTBOOK break and retest play...Vibe w/ me
1) On Fri the Daily TF last Candle closed under the Daily Resistance Level ($18588.50) which is our 1st confirmation that we could get ready to go short... ***In order for me to go short Price needs to stay underneath this level of Resistance...
2) We have a minor Support level created on the 4Hr TF around ($18491.00) that we can clearly see buyers trying to defend...***I want to see sellers break this level of support with confirmed candle closures on the 30m TF and down... Also price needs to be trading underneath the RED V-Wap as a last min. confirmation...Its always better to be trading in favor of the colored VWAP....
3) Now if we can get these sequence of events to take place in the market then I will be compelled to enter the Market SHORT off of the retest of the failed Minor Support Level and target the unmitigated 4Hr/1Hr Demand Below... We can easily catch a solid +2.5-3R % Gain depending on your given management system traded...***This is a txtbook break and retest play!
***Remember Nothing in the market is set in stone, We simply play the long-term game of probability... However I am very confident in my reading of PA and how this particular asset moves...Still the market is pure sure randomness and every trade is unique that is why it's the probabilistic game we love to play...Yes PA is all about repeated patterns however the timing of that exact pattern to take place is unknown...So always manage your risk professionally!!
Now lets sit back N stalk like the saltwater CROC!!
We have received the final confirmation of the candle closure underneath the Minor S&R and Now the SHORT Limit has been set....Now we wait patiently for the TAG... #500K
Comment
price is just hovering around our entry....I could market execute but id rather wait for tag....We'll see how it goes...
Trade active
We have officially been tagged in this SHORT....Lets stay focused and Manage Professionally...Remember to trade the system and nothing else...#BHM500K
Trade closed: stop reached
Stopped Reached todays move was a fake-out. All good on to the next trade!
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