Potential Short on E mini NASDAQ

E-mini Nasdaq-100 Futures (Jun 2022) (CME_MINI:NQM2022)

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CME_MINI:NQM2022 E-mini Nasdaq-100 Futures (Jun 2022)

Overall bias is Bearish which was derived from the higher time frame chart. Looking for the market to take out buyside liquidity and then show big displacement down taking out a short term low indicating a Bearish Market Structure Shift. Entry would be on the retracement into the price imbalance. Lets follow price along to see what happens and pay attention to 10am as there is a news event release.

Komen:

Just as important as it is to document a winning trade it is just as important to document a losing trade.

The reason why this was a losing trade is because the daily bias was not bearish instead bullish which resulted in the London low being raided first then the huge rally around the news release time at 10am.

Diagram of Buy setup

The buy setup would follow the criteria:
-Overall daily chart bias is favored to be bullish
-There is a raid on sellside liquidity
-Break in market structure shift
-Retracement back into price imbalance

Overall the Buy setup would have resulted in a 3:1 RR with minimum drawdown

Penafian

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