ok walter, thx...
I was just describing the high-level 'structure' of the day.
Traded below previous day low and then formed low of day in period 'A' -- opening 30-mins.
Traded up and touched 15-min 20-EMA in period 'B' -- 2nd 30-min bar.
Very common to form a coil around lunch time (periods F-G) following a trend day. Note that you can draw converging trendlines and can see low 5-min ADX(14) -- see link to chart. Converging trendlines and low 5-min ADX describe a market that is coiling/balancing for an afternoon breakout attempt.
Market breaks the coil in period H and trends up into the close.
POC for Friday was 1919.00 --- odds are that NQ will test this level at some point on Monday. Has done this on 78% of days (tested previous day
POC) this year.
here is 15-min NQ.D chart.
NQJune82007.jpg - Image - Photobucket - Video and Image Hosting