Futures Trading

Oct 18 - Futures Trading

Overall Market

Nasdaq 30 min

The market traded above both moving averages.

Buy at support using 1 min chart.

The support would be 

  1. launching level on 30 min chart
  2. Yest high
  3. day's low
  4. yest close
  5. VWAP - vwap, -1sigma, -2 sigma

Gold 30 min

Gold has been bearish trading below red moving average.

It looks like the red moving average is the resistance.

The market did not reach the red moving average intraday.

 

Crude 30 min

The market is bearish, blue moving average trading below red moving average all day long

Today's setup

Nasdaq - 1 min chart

Even though 30 min chart shows the bullish bias, it traded below VWAP all day long.

The places to go long were

  1. 30 min support area
  2. yest high and close
  3. intraday support

Gold- 1 min chart

Gold market was bearish on 30 min

The good places to go short were

  1. vwap
  2. +1 vwap
  3. 200 ema

Crude- 1 min chart

The crude is bearish on 30 min chart

Good places to go short on 1 min chart were

  1. intraday resistance
  2. vwap

200 ema was not good area to go short.  If you combine it with clear intraday resistance would work well.

What I learned

Mistake - I went long Gold even though it was bearish.   

Don't do counter trend trades for now.

If the market won't go in my direction in 5 min or so, just get out.  Especially Nasdaq

-Futures Trading

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