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NQ bearish view

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#1 CHAx

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Posted 20 May 2021 - 06:08 PM

This view is only for NQs.   Not as bearish other indices, yet.

 

 

 

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The timing not to scale.



#2 slupert

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Posted 21 May 2021 - 08:11 AM

Couldn't agree more, the nq's have to prove the lower high lower low trend stops, I don't think so. Buy dips sell rips. (JMHO)



#3 LMF

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Posted 21 May 2021 - 08:29 AM

The question always is.......whats the exact price where you know youre wrong.

#4 slupert

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Posted 21 May 2021 - 08:32 AM

have order in to short at 13640, scalp or longer if possible. (JMHO)



#5 CHAx

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Posted 21 May 2021 - 08:48 AM

The question always is.......whats the exact price where you know youre wrong.

 

~13730 would be a 1.618 extension C wave, anything above that is suspicious enough for me to wonder if my C-wave (of X) is actually an impulsive wave (not corrective).



#6 slupert

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Posted 21 May 2021 - 08:49 AM

 

The question always is.......whats the exact price where you know youre wrong.

 

~13730 would be a 1.618 extension C wave, anything above that is suspicious enough for me to wonder if my C-wave (of X) is actually an impulsive wave (not corrective).

 

good work will keep my eye on that.



#7 CHAx

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Posted 24 May 2021 - 12:53 PM

OK, looking to short ~13720 w/ a 70 point stop.  I never took the short on Friday because we never had a clear 5th wave of C (of x).  The C wave needed to be 5 waves for this pattern to make sense.  We now have a clear 4th wave on Friday into Sunday open , and today has been the 5th.   1.618 gives me 13730 (which is really the max we should expect in this type of Cwave), nonetheless I need to give the C-wave a bit of breathing room to take the trade, but everything looks lined up correctly for this to be a corrective pattern.



#8 CHAx

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Posted 02 June 2021 - 01:38 PM

Closed half for ~100 points,  stop at break even on the rest.  This is burning up too much time for me to have high confidence in my count.