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Have you ever noticed that whenever you think you see something new on a chart that would help you to join the trend or find a reversal point early that the very next time it shows up, it fails? LOL! Doesn't mean it doesn't work most of the time it just seems like something I have noticed since starting this journey into Futures.
You’re right, I’m just trying to figure out your chart and strategy, I use Sierra instead NT and when you configure a chart to 200 ticks each candle represent that, in this case (280 ticks) will be just 2 candles. I changed my chart to 200 trades per candle and looks pretty similar than yours. Anyway, thanks for taking your time to answer
Took one trade at market open around 9:40 am. Based on a rejection candle from the 200 ema. And the other ema's being lined up to go long. Kept it for 50 full points. Puts me at +1k for the day. Didn't take the rest of the move.
This trade was a good example of why I don't have a bias as to any direction during the day. I take trades based on what I am seeing on the chart that I am looking at and it works well for me. If it happens to line up with other time frames then all the better.
I think I see something about Futures that may be the key at least for me. In Forex, you could safely use the body of a candle in a swing high or low as your entry point. It would take it and normally continue that direction. In futures, NQ especially use the wicks plus 2-3 ticks as the entry point. NQ likes to come up to it move just enough to take it and then move some against you. If you pick the right swing it will eventually move your direction. Sometimes it will move a good bit against you before continuing in the right direction. I saw it do that just a little while ago and took another 110 profit. Trade was only red for about 1 minute.
+140 on the last trade of the day. Great day overall when you consider I am only trading 1 contract. Overall +1250. A few more days like that and it will be time to move to 2 contracts.
Still left some potential earnings on the table but with some self-improvement that should get better as well. Overall very happy with the day and with some things I observed regarding entries (see previous post).
Strategy has a big bug in it. It stops updating the horizontal line whenever I add another horizontal line to the chart. The code searches by Tag so it should find it but it doesn't. Turned it off for now. Going back to pending orders for trades.
I took the code for finding entries around the moving averages and turned it into an indicator for now. That way I can still get alerts for potential set ups.
The goal for this week is to string together 3 or more positive days and to be positive overall for the week.
my skill is not up to that level but trader EDGE use this technique in his eSwingRays to label all rays on the chart,
it's NT7 but hopefully it gives you some idea for NT8