My 9/17/20 Nasdaq Futures Trade Set-Up


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    Published on Sep 17, 2020
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    Markets are sold off after the Federal Reserve failed to give traders more confidence in the form of more quantitative easing shifts. However, Fed Powell did imply that interest rates would stay near 0% at least 2023.
    To add insult to injury, Dow futures were pointing to about a 300 point decline at Thursday’s open after the Labor Department’s weekly report showed fewer than expected but persistently high new jobless claims.
    So while everyone was bearish, I attempted to go long this morning. Price came back to a 4 hr demand zone, reversed, but limit entry was never triggered.


    I’m a supply and demand trader. The premise of supply and demand trading is when the market makes a sharp move up or down the large institutions i.e banks/hedge funds are not able to get their entire trade placed into the market, leaving pending orders to buy or sell at the zone with the expectation the market will return to the zone and the rest of their trading position will be filled.

    I use multiple time frame (MTF) analysis to improve my discretionary trading decisions. MTF analysis involves analyzing the same asset on multiple time frames. The rule of thumb when using MFT is you want your charts to scale down/up by 4X – 6X. In my case I tend to look at:

    Monthly Charts (curve time frame) – which represents that jet fighter flying over the football stadium.
    Weekly Charts (trend time frame) – which represents the concession stands looking down at the field.
    Daily Charts (entry time frame) – which represents being on the football field with the player.
    4 Hr Charts (entry time frame) – which represents the center hiking the ball to the quarterback.

    Tags :

    leofinance palnet neoxian stocks

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