NCHammer

NCHammer

Amazing how retests work even on data driven volatile days like today Entry at the retest (purple arrow) yielded great results

NCHammer

Looks like a failed breakdown here? Bears may be trapped under the 5180 level I am long at 5186

NCHammer

Price action is at an interesting juncture just below resistance from this morning's action and last Friday's close. If price was to sell down from here, I will be short at 5183

NCHammer Updated 

AFter the attempted sell off this morning, market might be trying a fakeout reversal. I've got a buy order at 5193.50

NCHammer

Weak start for ES. Shorted at 5183.50 after retest of the box pattern and failure there Possible continuation of the weakness seen on Friday

NCHammer

The chart shows the setup. Wait for a bearish engulfing candle to form which breaks down out of a well defined range. Place a sell order at the lowest low of that range

NCHammer

Looks like ES selling off. I have a sell order in at the low of the candle with the arrow hoping for a retest

NCHammer

Price sold off from a bear flag/wedge type pattern. A good short trade could've been had by selling at the retest of the breakout level. Take profits at the level

NCHammer

I am wondering whether this pattern back in Dec 2023 on the hour chart is a good pattern to trade. We see price run down forming bearish momentum. Price then chops back up in the shape of a bear flag or bearish wedge. Price rejects off the previous bear flag pattern. Either go short at the base of the bear flag pattern ie have a preset sell order in place or wait...

11:20

NCHammer

I highlight my thoughts on trading triangle patterns and the triangle pattern that I see right now on the SPX. I am thinking a breakout towards resistance in the coming days and then a sell in the markets at previous support turned resistance level. I also talk about what I think is history perhaps repeating itself. It would be awesome if it did and we get a very...

08:00

NCHammer

Big week ahead for the SPX. There are CPI, FOMC and options expiration week coming up. SPX must be poised for a breakout either way. I'm expecting this at the very least. Right now, I am thinking bearish due to the failed attempted breakout from the 200 day MA a couple of weeks ago, so the strength is still with the bears. Approaching an important trendline and...

10:36

NCHammer

I am getting bored with this range bound market. I am just trading short little fakeout type setups. 20 points here and there. But periods of low volatility will result in a big range expansion either up or down. i am prepared for either eventuality but just be patient and not be too premature. Breakout starts above 3990 and breakdown below 3915

03:41

NCHammer

After 4 days of consolidation, I am expecting some sort of decent trend move tonight. Which way? I don't know but I'm prepared to play it either way with hopefully some sort of failed breakout or breakdown setup

06:32

NCHammer

ES biggest week last week. Strongly bullish. Buy the dip time coming up but I want to wait for decent pullbacks before doing that. Hoping for price to go back down to the 3920s level or lower would be nice.

06:25

NCHammer

Another choppy week coming up with CPI release on Thursday. I describe a level to level recapturing of levels trading technique that I use instead of just chasing breakouts etc. Better to trade when bulls or bears are trapped as that will present more opportunity for a profitable trade as trapped traders close their positions

06:27

NCHammer

I am short now at 3664. I go through some of my thinking about trading around levels in these choppy conditions and waiting for a minimum 4 wave count to finish before trading with the trend on a confirmation of a breakout in either direction

07:12

NCHammer

Quick little lesson about trading around levels and what testing a level looks like. The more a level gets tested, the more likely it is to break out. Just got to determine the right direction lol Basically follow the trend. If the trend is uncertain, then just wait until there is a noticeable trend and trade the next level up or down

06:43

NCHammer

Another strong night for the ES. It's looking quite bullish now. But be prepared for anything the market throws at you. As always trading failed setups are the best way to enter a position whether long or short