hardhattrading
EssentialSeems like this mornings run might be a bit exaggerated. Looking for a healthy pullback stop go long.
Looking for some pull back to the 23,310 area for a 50 point gain. I’m actually going to enter with two positions with micro contracts four micros at 310 and another four at 300 with a stop around 290.
My GL trade thesis. Previous two potential bullflags had a strong confirmation when first 15 min candle closed abolve VWAP. A 3rd Bullflag might be forming. Looking to go long on the 1st closed green candle on 15min today. With a stop at 3450. Profit target, 3550 (psychological level).
Looking at NQ futures chart, we seem to be in a clean bear flag. If at the time of FOMC announcement and J. Powell talking (2-3pm est), if the market is relatively at the bottom of the channel, I'd be looking for the Bear Flag follow through. The risk/reward on this pretty huge considering the trade accounts for a 400 point drop if it plays out as the charts show...