📝$NQ - Trading Plan 6/26
🗺 What's happening? (the context) 🗺 Monthly/Weekly/Daily one time framing higher
Today was a pretty boring session for the most part. But off the open NQ traded right up to our “shorts from higher section of the plan which provided a slow motion 150 pt pullback into our “Pullback Longs” section of the plan which marked the highs and lows of the session.
From today’s pullback longs and shorts from higher plans:
Shorts from Higher***
Not interested for now, I will watch the stronger zone up at 22549-22563 for resistance
Pullback Longs
“If we start pulling back we need to be very patient, only watching a few spots.
A look below the overnight low that retakes 22399-416”
The gap up got filled but despite several attempts sellers couldn’t stay inside the prior day’s value for long. NQ clearly looked a bit stronger than ES and was able to close the session above the prior all time high at 22450. Value moved higher, POC moved a little higher and sellers clearly have no interest in trying to push prices down in a meaningful way. We must continue to go with the flow even if we don’t agree with it, but it pays to take some profits as we make new highs and trail our stops to avoid these little liquidations. WE do have data tomorrow morning and PCE on Friday so a few traps around the prior ATH wouldn’t be a surprise we can use the pivots to gauge the strength off either side.
Overnight inventory is balanced
Currently trading right around the close
Currently trading at 22480
Here are my critical zones and how I plan to use them today: