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I think both NG & NQ long are swingable. Normally when I scalp I'm looking for anywhere b/w a couple & several points but I think both could be good for more. We'll see!
11:19 Long NG $2.34. Stop $2.30, Target Open
Important to note the timestamps of the line & my entry are different b/c I am scalping off a tick chart. Ticks and candlesticks work completely differently. On the 500 tick below that I am using to scalp, one tick can represent a few seconds of price action, or it can represent several minutes or more. It all depends on volume. Whereas candlesticks are always based on increments of whatever TF is selected.
8:57 Long NQ $14,370, Stop $14,360, Target Open
Stopped out
That was close! I moved my stop to $14,370 seconds before I would have stopped out.
8:35 Add NQ $14,376, $14,378 avg. $14,370 Stop
8:22 Long NQ 14,380, Stop 14,375, Target Open
Scalping off the 500 tick. The tape is very bullish, so I consider support discovery @ $14,377.50 noted by BetterSineWave via the tiny green dots & word "END", a high probability long signal. I marked my entry with the timestamped dotted vertical white line.
Another thing to note:
In a low volume tape the signals the better indis produce are just as surgical: bearish exhaustion (green dot) last night was good short for 60 points & counting.
Bearish exhaustion is actually bullish but often behaves in bearish fashion when it appears after a rip.
VKTX MTF Breakdown:
Legend:
Blue bars note the activity of institutions & algos.
Yellow bars with "R" below note heavy pockets of retail sell chasing activity, and vice versa for yellow bars with "R" above. They are called RAMBO price patterns: "Reversal of amateur breakout."
Horizontal lines of varying thickness: Notable pivots, the thicker the more important.
Green Background: Demand Zone/Support area
Red Background: Supply Zone/Resistance area
Buy "warning" - print when a key pivot breaks to the upside in a demand zone - shown by timestamped dotted vertical green lines
Sell "warning" - print when a key pivot breaks to the downside in a supply zone - shown by timestamped dotted vertical red lines
Thin red lines: notable trailing stop levels of pro shorts
Thin green lines: notable trailing stop levels of pro longs
Monthly: Already about a 10 bagger in less than a year, a retest of the previous all time September 2018 high of $24 is likely after $20 definitively held 5/26.
Weekly: The pro interest in VKTX has been strong all year.
Daily: Bearish divergence (yellow dot) @ all time highs was a pullback warning which so far equates to a 30 ema (red line) retest.
Hourly: The 5/16 break of the previous all time September 2018 high of $24 was pro driven. A notable pro long trailing stop level of the 5/16 pro breakout buyers @ $20 was successfully tested pre-market 5/26.
15 Minute: Pros were active near the lows 5/25.
Dollar MTF Breakdown:
The dollar & gold have a strong inverse relationship.
On all TFs the dollar is above vwap & all key emas (10 - 200).
Daily: The red & green horizontal lines note the dollar is now in a supply zone b/w $104 & $105. Also visible is the strong support @ $100 noted by the thick green horizontal line @ $100.415. $100 was successfully tested 2/2 then followed by 2 consecutive higher lows 4/14 and 5/4.
Hourly: Pro profit-taking 5/25 was followed by a shallow pullback. 5/26 pros were active in the dip.
15 Minute: Pro driven bearish divergence (yellow dot) 5/25 was a pullback, not reversal warning. Right after the bounce off the 200 ema (aqua line) confirmed the strong up trend was still intact, pros bought the breakout over $104 5/26.
Dollar MTF Breakdown:
Legend:
Blue bars note the activity of institutions & algos.
Yellow bars with "R" below note heavy pockets of retail sell chasing activity, and vice versa for yellow bars with "R" above. They are called RAMBO price patterns: "Reversal of amateur breakout."
Horizontal lines of varying thickness: Notable pivots, the thicker the more important.
Green Background: Demand Zone/Support area
Red Background: Supply Zone/Resistance area
Buy "warning" - print when a key pivot breaks to the upside in a demand zone - shown by timestamped dotted vertical green lines
Sell "warning" - print when a key pivot breaks to the downside in a supply zone - shown by timestamped dotted vertical red lines
Thin red lines: notable trailing stop levels of pro shorts
Thin green lines: notable trailing stop levels of pro longs
The dollar & gold have a strong inverse relationship.
On all TFs the dollar is above vwap & all key emas (10 - 200).
Daily: The red & green horizontal lines note the dollar is now in a supply zone b/w $104 & $105. Also visible is the strong support @ $100 noted by the thick green horizontal line @ $100.415. $100 was successfully tested 2/2 then followed by 2 consecutive higher lows 4/14 and 5/4.
Hourly: Pro profit-taking 5/25 was followed by a shallow pullback. 5/26 pros were active in the dip.
15 Minute: Pro driven bearish divergence (yellow dot) 5/25 was a pullback, not reversal warning. Right after the bounce off the 200 ema (aqua line) confirmed the strong up trend was still intact, pros bought the breakout over $104 5/26.
I'll be around. Likely posting some charts over the long weekend. That's always pure enjoyment for me. Looking forward to both doing that and not doing over the long weekend.
See you soon hopefully :)
Thank You so much sharing your market thoughts and some of your trades here!!!
Have a great Memorial Day weekend d. Stay safe and be well. See you later!
Power hour every Friday is my favorite time to trade all week.
Sold QQQ $350 5/26 C @ .20 from .13
Power Hour lottos: QQQ $350 5/26 C @ .13
Sold NVDA $385 6/2 P @ $8.05 from $7.70
NVDA P again: $385 6/2 @ $7.70. This one maybe for the over the weekend hold depending on how it behaves the rest of the session.
Sold NVDA $380 6/2 P $6.50 from $6.25 avg.
Only add in NVDA $380 6/2 P @ $5.50, $6.25 avg.
NVDA 125 Tick:
Pros & amateurs active near the same levels is another one of my favorite set ups and that's what I see now. The bearish RAMBO is a strong indicator of who is doing what. As Barry always says follow the blue & fade the yellow.
First thing I Iike seeing is how NVDA blew through those 4 bullish RAMBOs before catching a bid but the bearish RAMBO was a surgical short signal.
Watching price action around hod in NVDA closely........I'd love to see another block of pros confirm a lower high here.