20211014
Short 3 MNQ 1409.7, 1409.7, 1409.7, +9.5, +9.5, +9.5,
Short 3 M2K 2262.7, 2262.7, 2262.7, -1.5, -1.5, -1.5,
Short 3 M2K 2267.2, 2267.2, 2267.2,+3.6, +3.6, +3.6,
Short 3 MNQ 14950.5, 14950.5, 14950.5, -3.75, -3.75, -3.75,
Short 3 MNQ 14969.25, 14969.25, 14969.25, -5.25, -5.25, -5.25,
Short 3 MNQ 14973.5, 14973.5, 14973.5, -5.25, -5.25, -5.25,
Short 3 MNQ 14983.75, 14983.75, 14983.75, -1.25, -1.25, -1.25,
Short 3 MNQ 14988.75, 14988.75, 14988.75,+12.5, +12.5, +12.5,
Long 3 MNQ 14967.5, 14967.5, 14967.5,+14.0, +14.0, +14.0,
Long 6 MNQ 15013.75, 15013.75, 15013.75, 15014.25, 15014.25, 15014.25, +17.00, +17.00, +17.00,+22.25, +22.25, +22.25,
Total MNQ +178.25
Total M2K +2.1
The 'Last Chance Texaco' trade comes on Persistent Trend Days, where little if any swing opportunities present themselves in the early going. But if no correction to the trend has been made in the Midday Frame, chances are pretty high that one will come near or after the 2:30pm ET Transition Time Marker. That opportunity presents itself often with a swift, sharp move that knifes into the 200 EMA. And indeed, it often feels like you're trying to catch the proverbial falling knife. The normal behavior is when the 200 acts like a trampoline and throws price back up through both MA's, and often on to a new price extreme. It is usually best to exit as the new price extreme in the trend approaches, in case it doesn't make it.
More examples of this can be seen in our trading manual Pivots, Patterns and Intraday Swing Trades, available online.