here is a look at thursday... a beautiful day for NQ traders:
(I generally skip opening 30-minutes -- just watch)
1. play for a 10-11am reversal if 1st push is away from previous day value... (note there was also a little abc down).
2. ABC up forms into previous day 'last hour high'... this high forms while STILL in the 10-11am reversal timeframe. fade it for a flush down.
3. note how NQ hunts down and touches previous day
POC wayyyy up at 67.50. there was a long play here off a mid-day coil breakout. a little tricky since no good ABC down to fade but there is a good tendency to go touch previous day
POC.
4. after touching the
POC, the market is extended and reached that congestion zone (the
POC) for some resistance. again, fade this giant ABC up for a flush down...
http://bp1.blogger.com/_5h-SWVGx6Ms/...ne+21+2007.bmp