Monday trade NQ review
Looking at Sunday nights price we saw NWOG being created.
What I've experienced with NWOG has been that it typically acts as a form of magnet, it will attract price to it and sometimes may have price react off of it as a support or resistance.
Overnight during London session we floated above and notice how price consolidated for most of London Session, and as soon as 2:25 am price starting to fall towards "NWOG".
This gave me two things to look for 1 was price was already taking out sell side liquidity when London was consolidating, and 2 price had a SIBI from Friday sells that needed to fill as marked on the chart.
Once I waited for my SB hour at 10 am NY local time, I realized price was reacting and had given me an entry that I highlighted right at 10:04 am.
Target was originally the previous high from Fridays last drop but I was taught to have TP under that to account for spreads. TP smacked at 3:30 pm. SL was a little larger than I would have liked but it was the previous low of the move.
sticking to one trade and one fixed lot size
IMAGES OF TRADE BELOW
15 MIN TF
5 MIN TF
1 min TF
DETAILED
What I've experienced with NWOG has been that it typically acts as a form of magnet, it will attract price to it and sometimes may have price react off of it as a support or resistance.
Overnight during London session we floated above and notice how price consolidated for most of London Session, and as soon as 2:25 am price starting to fall towards "NWOG".
This gave me two things to look for 1 was price was already taking out sell side liquidity when London was consolidating, and 2 price had a SIBI from Friday sells that needed to fill as marked on the chart.
Once I waited for my SB hour at 10 am NY local time, I realized price was reacting and had given me an entry that I highlighted right at 10:04 am.
Target was originally the previous high from Fridays last drop but I was taught to have TP under that to account for spreads. TP smacked at 3:30 pm. SL was a little larger than I would have liked but it was the previous low of the move.
sticking to one trade and one fixed lot size
IMAGES OF TRADE BELOW
15 MIN TF
5 MIN TF
1 min TF
DETAILED
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