Trading levels for 11/08/2018
Nice run in the markets, we were trying to short R3, but got no setup at that level, therefore we pass the opportunity. Moving forward there is a lot going in the market and this what i see.
If market pushes higher there is a Gartley pattern formation around the 7300 level, which is the 1.27 extension, also around that area, we have the 88.6 retracement, and the 1.618 extension, all between R2 and R3. Just above those levels we have the structure level of 7368, and just above that we have the AB-CD completion at 7427 which coincide with the structure level of 7420. I will be looking to take a short from these levels, only if i get the setup that is written in my trading plan which is DIVERGENCE, also for those people that have asked, i don't hold positions overnight for the NQ, i am a daytrader, not a swingtrader.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
If market pushes higher there is a Gartley pattern formation around the 7300 level, which is the 1.27 extension, also around that area, we have the 88.6 retracement, and the 1.618 extension, all between R2 and R3. Just above those levels we have the structure level of 7368, and just above that we have the AB-CD completion at 7427 which coincide with the structure level of 7420. I will be looking to take a short from these levels, only if i get the setup that is written in my trading plan which is DIVERGENCE, also for those people that have asked, i don't hold positions overnight for the NQ, i am a daytrader, not a swingtrader.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
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