Friday's Trade Setup

The market was on the downtrend for the past four days of trading and doesn't show any sign of recovery.

There lots of events that was happening from around the globe that affected the whole market and likewise the earnings report of the most notable companies that moves the market, i.e., AAPL, GOOG, and others.

And most participants are taking early profits prior to the coming December holidays.

They are taking profits early to get the most advantage in price while the market is still way up.

At  the same time they are taking position from other instruments, 'buying on the deep opportunities'.

For today's market, the Nasdaq index show some kind of late trading opportunity.

As can be seen from the chart below, the QQQ etf's, which is the equivalent 'kinda' of the NQ futures.

The best entry is when it made/show a reversal pattern above the S1 level.

It briefly consolidates/tested above that level and then vertically bounced up to the R1 level.

Nice catch if you were able to take this kind of opportunity/setup.

And the ascending MA's gave the confirmation for a long trade.

Have a nice weekend fellow traders, hope you were able to capitalize on this last trading setup opportunity, erasing all the losses (for the bulls) the past four trading days.

Monday's Market Action

The market bounces back at the later part of trading.

It opened above from Friday's close only to make choppy/volatile moves almost the whole market hours.

The participants are gauging the market sentiments due to earnings reports and vital calendar market events.

Let's see come trading days ahead if the market will prevail from today's move.

 

 

Friday's Trade Setup

The market tumbled for the second day since yesterday, Thursday.

A follow through from yesterday's GOOG sell off.

A good trade today is to sell in the open and cover in the close as shown from this 5-min. chart.

Not much volatility, all sell off throughout the trading day.

Tuesday's Trade Setup

The market gap up today for the continuing bullish trend from yesterday's market.

The best entry is to buy in the open and monitor its movement till the close.

Good trading environment in today's market.

 

 

Monday's Trade Setup

The market is on the verge of downward movement the past weeks.

For today's market, it gap up in the open only to lose its momentum after an hour or so.

The best entry if within the settlement price as the two ma's crosses over.

It formed a "u" pattern and a cup with a handle bullish formation.

Spotting today's market involves recognition of pattern which plays a vital part in finding a probable trade.

The most probable exit on this setup is when the market closes its session.

Friday's Trade Setup

Today's trade was not quite convincing but the price action and the double bottom pattern made it possible to place a trade.

The double bottom is recognizable within the support level (S1).

The entry is at the arrow below for a long trade when the ma's crosses over.

The exit is at above the pivot line when it starts to lose its steam.

Making a trade when the market is like this especially it's a Friday needs full concentration in watching the price movement.

Price action is all that matters and some kind of precise trading experience.

 

 

Best Trade Setup

The market made a nice move today and the best trade is to buy in the consolidation from the open.

Exit is at the arrow above.

Best trade setup!