Tuesday, April 5, 2011

Trade Guideline For Wednesday (Nasdaq NQ)

I will use 2330 as key Line-in-the-Sand for Wednesday morning.

  • Will look for NQ to trends downward in the morning with price action below 2330 in the morning. First target is 2320, then 2310-2312 and 2390-2392 area before reversing back up. 
  • Will be looking for morning rally if price action is above 2330 in the morning, targeting 2339, then 2350 before reversing back down.


Note: Not expecting reversal if market internals are extreme.