Nasdaq Intraday Review - Wednesday 24 July 2024
I trade Nasdaq exclusively
Trading in GMT time zone
Sharing my post day review and analysis in case it can help you!
Did my analysis at +- 5am GMT (12 am EST)
Economic news - None
News - Earnings news (Alphabet and Tesla) last night
Directional bias - SELL, because last night the Day candle closed with a red doji candle after having touched the D - 0.382 sell fib level + D EMA.
I woke up early to see what market was doing and noted a MASSIVE gap down - this confirmed my SELL bias
Entered a sell on the 15min TF at the hand icon - confirmations:
Break of the neckline of a DT that had formed on the 15min, 30min and 1H TF (TF confluence).
Mental stop was placed at half the height of the DT (marked by the thick pink line).
Price dropped beautifully.
Closed half my position at the bang icon and will watch price action to close the remaining position.
Bang icon = M - 0.382 buy fib level i.e. a strong possible reversal zone.
This will be my last post for 4 weeks, as I am going on a long summer holiday!
Feels so good to close out my trading on a nice big profit (2'968 pips so far).
Hope you caught this sell!
All the best...till next time! :)
Abbreviations:
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
M = month
S&R = support & resistance
EMA = exponential moving average
SL = stop loss
Trading in GMT time zone
Sharing my post day review and analysis in case it can help you!
Did my analysis at +- 5am GMT (12 am EST)
Economic news - None
News - Earnings news (Alphabet and Tesla) last night
Directional bias - SELL, because last night the Day candle closed with a red doji candle after having touched the D - 0.382 sell fib level + D EMA.
I woke up early to see what market was doing and noted a MASSIVE gap down - this confirmed my SELL bias
Entered a sell on the 15min TF at the hand icon - confirmations:
Break of the neckline of a DT that had formed on the 15min, 30min and 1H TF (TF confluence).
Mental stop was placed at half the height of the DT (marked by the thick pink line).
Price dropped beautifully.
Closed half my position at the bang icon and will watch price action to close the remaining position.
Bang icon = M - 0.382 buy fib level i.e. a strong possible reversal zone.
This will be my last post for 4 weeks, as I am going on a long summer holiday!
Feels so good to close out my trading on a nice big profit (2'968 pips so far).
Hope you caught this sell!
All the best...till next time! :)
Abbreviations:
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
M = month
S&R = support & resistance
EMA = exponential moving average
SL = stop loss
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