Wednesday, April 18, 2012

Trade Guideline for Thursday (NQ)

As expected, Wednesday was a consolidation day. Thursday could be another consolidation day unless it can breakout and stay outside Wednesday's trading range.

Range High = 2725
Range Low = 2705

A sustained break out of the range has the potential to trigger a fast move in the direction of the break.
  • A fast short-covering rally on a sustained break above 2725, targeting 2750
  • A fast liquidation decline on a sustained break below 2705, targeting 2680 then 2670..