What’s good guys…take the time to study the following charts…This i for the funded trader program.
Nasdaq was showing the weakness at the top side of the zone…If you notice i was building shorts on the idea that the move up by NASDAQ was starting to slow down…
Now whilst I was building the shorts, In my mind, I was anticipating a move up as this is what the market makers like to do…Induce the commitment of traders and then reverse.
If you notice the Atas platform i had the footprint showing me interest in specific zones. If you zoom into the chart you will see the before and after where price had returned to the zones (blue Lines)
So the question grants…What could I see that made me believe price was going to drop?
1) Nasdaq has been moving up and aggressively…A retrace is expected…
2) Notice on the chart where i was building my shorts I had 2 red vectors that appeared which gave me the clue that the market maker was preparing the range to drop and get the final traders committed into the “Buy the dip” Scenario.
3) Dxy and Yields were starting to move up. Last weeks Low on Dxy was already showing the strength of a reversal zone.
4) The Atas platform, was showing me, based on our discussion today regarding “watching Price” that many attempts up were being met with fast pull backs.
5) The Green Stopping volume candle that appeared finalized my justification to see price working lower.
The internet provided lag and i couldn’t close in time and left a little on the table…
You may have questions about the above…
But ultimately…The trade could have gone the opposite way and I would have closed at a loss.
But I want to know….Would you have gone short from here?
Mad Love
T
