Nasdaq Intraday Review – Tuesday 5 Dec 2023
I trade Nasdaq intraday exclusively
Trading in GMT time zone
Sharing my post day review & analysis in case it can help you :)
Did my analysis at +- 5:20 am GMT
- Noted a temporary downtrend as marked by the green trend line
- As the morning progressed I noted the formation of an uptrend line (also marked green) and noted that this uptrend was tested a few times during the morning
- Noted that the D TF 20 EMA was just below the candles. This EMA had acted as massive dynamic support yesterday resulting in a long wick candle on yesterday's 4H TF.
- I was still interested exclusively in a buy as I believed the market would at the very least retrace enough for me to secure my trade and I believed the market would at least bounce off the D EMA.
- Eventually a double bottom formed and I entered a buy at 1.
Confirmations:
Break of the neckline of the double bottom on the 30min TF
Break of 30min EMA which the market had been respecting till that point signally a trend reversal
D TF EMA as dynamic support
I believed the market would at least retrace a bit, if in fact the move for the day was a sell.
- Stop was a mental stop placed at the thick pink line (after yesterday, I was determined to be more disciplined with my mental stops)
- Had to endure a draw down of +- 420 pips
- But eventually the market moved with speed in a bullish direction
- Jolts Job Openings helped boost the market through the various EMA's and the pivot point and sell fib levels.
Closed half my position at the temporary down trend at about 2. when I noted some weakness in the candles in this area (a temporary down trend that had been holding strong for a few candles now + sell 618 Fib level + 4H EMA all confirmations in favour of the bears).
Left the other half to run for the rest of the day i.e a time stop to see how far the market would rally.
But really didn't like how the market came crashing back down below the trend line as I was expecting that the market would stay well above this area. Also down below the 1H 200 EMA and 4H 20 EMA = not good)
So I closed my other half position at around 3.
So I am out for the day with around 900 pips profit.
Good luck if you are still trading! :)
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
Trading in GMT time zone
Sharing my post day review & analysis in case it can help you :)
Did my analysis at +- 5:20 am GMT
- Noted a temporary downtrend as marked by the green trend line
- As the morning progressed I noted the formation of an uptrend line (also marked green) and noted that this uptrend was tested a few times during the morning
- Noted that the D TF 20 EMA was just below the candles. This EMA had acted as massive dynamic support yesterday resulting in a long wick candle on yesterday's 4H TF.
- I was still interested exclusively in a buy as I believed the market would at the very least retrace enough for me to secure my trade and I believed the market would at least bounce off the D EMA.
- Eventually a double bottom formed and I entered a buy at 1.
Confirmations:
Break of the neckline of the double bottom on the 30min TF
Break of 30min EMA which the market had been respecting till that point signally a trend reversal
D TF EMA as dynamic support
I believed the market would at least retrace a bit, if in fact the move for the day was a sell.
- Stop was a mental stop placed at the thick pink line (after yesterday, I was determined to be more disciplined with my mental stops)
- Had to endure a draw down of +- 420 pips
- But eventually the market moved with speed in a bullish direction
- Jolts Job Openings helped boost the market through the various EMA's and the pivot point and sell fib levels.
Closed half my position at the temporary down trend at about 2. when I noted some weakness in the candles in this area (a temporary down trend that had been holding strong for a few candles now + sell 618 Fib level + 4H EMA all confirmations in favour of the bears).
Left the other half to run for the rest of the day i.e a time stop to see how far the market would rally.
But really didn't like how the market came crashing back down below the trend line as I was expecting that the market would stay well above this area. Also down below the 1H 200 EMA and 4H 20 EMA = not good)
So I closed my other half position at around 3.
So I am out for the day with around 900 pips profit.
Good luck if you are still trading! :)
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.