NQ: 94th trading session - recap
I'm back, gonna start journaling on here more often, seems pretty fun.
I developed & imprivedmy discretionary based strategy over the past few months and I'm finally seeing some ups again after a lot of bad performance.
Trade breakdown:
- NQ has been on an upwards consolidation, which I don't really like tbh. Two days ago however it broke that range with a lot of momentum to the downside. Initially I had a bearish bias, but overall I just had a feeling that today there will be some big moves. (I don't really like having a bias cause it restricts me and my edge in so many ways but I cannot help it.)
- after breaking to the downside price started consolidating, establishing a smaller range that I could use for entry POI's
- I thought price was gonna break the range to the downside, especially because price was already pushing against it, before market open. However, it really had trouble breaking through, the bulls were also pushing.
- I like seeing this beginning price action as "the bulls & bears fighting, and whoever wins first gets the big move". This means basically that if we have a break to the downside, im short, and if we get a break to the upside, im long (only if we see enough momentum, this is so important!!!)
- the bulls then took over and "won the fight against the bears", making me take a long position
80 tick SL
1:3 RR
I will work on my RR and overall TP's, not too entirely sure how I'm gonna manage that...
I developed & imprivedmy discretionary based strategy over the past few months and I'm finally seeing some ups again after a lot of bad performance.
Trade breakdown:
- NQ has been on an upwards consolidation, which I don't really like tbh. Two days ago however it broke that range with a lot of momentum to the downside. Initially I had a bearish bias, but overall I just had a feeling that today there will be some big moves. (I don't really like having a bias cause it restricts me and my edge in so many ways but I cannot help it.)
- after breaking to the downside price started consolidating, establishing a smaller range that I could use for entry POI's
- I thought price was gonna break the range to the downside, especially because price was already pushing against it, before market open. However, it really had trouble breaking through, the bulls were also pushing.
- I like seeing this beginning price action as "the bulls & bears fighting, and whoever wins first gets the big move". This means basically that if we have a break to the downside, im short, and if we get a break to the upside, im long (only if we see enough momentum, this is so important!!!)
- the bulls then took over and "won the fight against the bears", making me take a long position
80 tick SL
1:3 RR
I will work on my RR and overall TP's, not too entirely sure how I'm gonna manage that...
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