Get started
ytsai45

It is okay to short NQ on NFP day

Short
NASDAQ 100 E-mini Futures (CME_MINI:NQ1!)  
ytsai45 Updated   
CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
Chart Patterns
2
0
chartpattern
Risk reward seems fine. Should a solid payroll data successfully triggers a selloff, NQ is likely to repeat the move we saw on 7/27. 300+ points in profits. Target: 14800 area.
First we need to see yday low 15068 to break, otherwise my strategy doesn't work out.

Comment:
It seems that previous July high 15134 fails to hold. So far my plan is working out. Next target is 15068.
Comment:
15068 8/5 low fails to hold, so we are going to test 14962. 14962 is the lower end of price cluster since 7/24. Therefore this level is important to me. If breaks then it open up the downside to 14800.
Comment:
If things do not go well...I'm about to scrap the trade at 15156. trend is against me.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.