Long Nasdaq Turtle soup from potential Low of week
Updated
Seasonally bullish July. HTF still bullish imo. Turtle soup long after deep sweep of Weds 3rd July low and after touching +bkr 4hr CE, and after reaching ABCD down projection. Ideally now i want hourly bodies to respect one of these levels, and us to get a lower timeframe break up in structure. If it keeps spooling down all day, then i'll take the loss.
-NQ has been very much weak sister for many days now, feels to me like it's time for it to start showing relative strength now and and become the stronger sister to ES.
-Seeing if we put in Low of week here in the opening hour, or later today.
-Buying around the ABCD downleg projection, and the +OB wick CE W
-Stop below +OBMT W and just below an old daily low (Tues 2nd July): Basically full exit/loss if we properly lose the +OBMT W below.
-Ultimate target is the nice 20600 ABCD confluence (ABCD projections align here from both the 2023-2024 swing and the June'24 swing). Gut says we have NOT properly topped in indices.
-Will take paritals at FVG H nearby overhead, and move stop for remaining position to breakeven.
-Will take further partials and trail stop if we breach ATH Nasdaq.
-Will take last of position off at the beautiful ABCD projection confluence 21600, if we get up there before early August.
-If this runs up, i'm willing to hold til the end of the month (Indices are seasonally bullish in July)
-For confirmation of shift back to bull in earnest, i want to see the FVG H above us 'flipped' bullish (resist, small retrace, then power on up through it)
*Note to self: i should really wait to enter after getting low timeframe confirmation of a bottom, but i'll be totally honest: i want the satisfaction of potentially catching the low of week; I accept the risk of price just spooling on down and stopping me out today.
**Just an idea for paper trading, not financial advice
-NQ has been very much weak sister for many days now, feels to me like it's time for it to start showing relative strength now and and become the stronger sister to ES.
-Seeing if we put in Low of week here in the opening hour, or later today.
-Buying around the ABCD downleg projection, and the +OB wick CE W
-Stop below +OBMT W and just below an old daily low (Tues 2nd July): Basically full exit/loss if we properly lose the +OBMT W below.
-Ultimate target is the nice 20600 ABCD confluence (ABCD projections align here from both the 2023-2024 swing and the June'24 swing). Gut says we have NOT properly topped in indices.
-Will take paritals at FVG H nearby overhead, and move stop for remaining position to breakeven.
-Will take further partials and trail stop if we breach ATH Nasdaq.
-Will take last of position off at the beautiful ABCD projection confluence 21600, if we get up there before early August.
-If this runs up, i'm willing to hold til the end of the month (Indices are seasonally bullish in July)
-For confirmation of shift back to bull in earnest, i want to see the FVG H above us 'flipped' bullish (resist, small retrace, then power on up through it)
*Note to self: i should really wait to enter after getting low timeframe confirmation of a bottom, but i'll be totally honest: i want the satisfaction of potentially catching the low of week; I accept the risk of price just spooling on down and stopping me out today.
**Just an idea for paper trading, not financial advice
Trade closed: stop reached
Stopped out
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