NQ Hourly Trade Aug 8 Fri

Scenarios:

Buy at 250 if averages in all TFs still remain up

Sell at 600 level if extreme move, already worked once, second time may not work as well

Signals:

  • Monthly pin in Apr
  • Weekly bearish BE in last week of Jul
  • Daily bearish BE Jul 31

Dow trend:

  • 4H up
  • 1H lower high

BC trend:

  • 4H up
  • 1H flat

All TFs up inactive

Rejected at 600

  • 4H pattern: line in the sand 350
  • Daily pattern: channel
  • 4H squeeze faded
  • 4H ATR ~ 140
  • 1H ATR ~ 80
  • Above FOMC AVWAP

ETH TPO

No single

RTH TPO

Back into sell zone 400-500

High volume bar?

  • Volume average

BB lower band (3SD):

  • Flat

BB upper band (3SD):

  • Flat

Z-score >2 or < -2?

  • 0.7

ATR/SD correlation > 0.9?

  • No