The Rejection Block was my defensive PD Array for me lowering my stop loss to lock in more profit.
It should never get taken out twice.
It should never get taken out twice.
Write that down in your notes and if you need more insights on Rejection Blocks search Rejection Block Core Content Month 4 playlist on my YouTube.
When I was closing our time together yesterday, I told to to study NQ and to see if it was able to hold its High formed on the close of RTH
Using NDOG as a catalyst for a retracement back inside Tuesday's afternoon range was reasonable.
I was napping when NQ had dipped to 20432, I believe I would have taken one off down there. That is the only thing I would have changed
I was napping when NQ had dipped to 20432, I believe I would have taken one off down there. That is the only thing I would have changed
I want you to look at recent short term highs and lows... and how essentially we are in the middle of the Daily range... after 8:30am ET news released
Ask yourself this... does it appear at this time that NQ is in a hurry to get to any specific level?
So if the market is poised like it is... when there is no obvious, clear to determine Draw On Liquidity... you give yourself permission to not know "yet".
Then you remind yourself that you do not need to enter a trade, nothing is forcing you to be in front of your charts.
Too often as a young impatient man, I would grow irritable and to illeviate the discomfort of impatience I would wrecklessly plunge into a trade... with no technical basis, no plan, no clue. Ever been there? :)
These are those very troubled waters Traders tend to make that very mistake.
Knowing how to recognize them and subdue your impulsive tendencies is crucial. Otherwise, the money you make on easy days can be erased by foolish reactions to emotions and impatience.
Look at it this way... nothing in the Daily or 15min chart indicates that NQ has to do anything directionally here.