Breakdown Setups Above Key Support - Trap Long, or Trap Short - Feb 24 Plan
#ES_F / #NQ_F - SPX / NDX FUTURES - $SPY / $QQQ
Day trading the Nasdaq 100 futures has become my passion over the years. I make a living scalping and swinging it, and use it to demonstrate and teach my methodology.
My entry model and edges work on all tickers and assets - without exception.
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I had $24710 magnet yesterday and was looking for a 4 hourly flag breakout to follow through Friday’s daily failed breakdown.
The US session gave the attempt pre market and at the US open attempted to follow through, but market gave short instead when key level 2 couldn’t hold.
We got multiple scalps for 20 to 30 points, as well as the $24948 short entry given live during video stream, then short $24867, which was the last entry I have on video before taking my break.
We also had a good series of scalps.
Late day longs paid as well - my $24710 level hit, undercut, swept Friday’s low and gave two textbook longs, the first one on the 1 minute chart:
My Tradingview indicator highlights the true breaks.
Avoiding false breaks (sweeps) is important, because you can’t get a failed breakdown from a false break.
You need a true break to define risk and context for a reversal.
Updated Trade Plans $NQ_F / $ES_F
Daily Breakdown Contractions: Trap Long or Trap Short
$NQ_F Daily Chart - Weekly EMA9 rejection for a lower high, yesterday’s bull traps confirm today if the daily EMA9 rejects price.
A failed breakdown below yesterday’s low initiates the daily failed breakdown for starter positions swing long.
Rejection at the daily EMA9 initiates the swing short. To define risk, this will have to be an hourly failed breakout.
Detailed trade plans with key levels and triggers in today’s newsletter.
$ES_F Daily Chart - Identical to NQ, weekly EMA9 rejection for a lower high, yesterday’s bull traps confirm today if the daily EMA9 rejects price.
A failed breakdown below yesterday’s low initiates the daily failed breakdown for starter positions swing long.
Rejection at the daily EMA9 initiates the swing short - to define risk, this will have to be an hourly failed breakout.
Detailed trade plans with key levels and triggers in today’s newsletter.
The Entry Model - I use only one setup to define risk on all timeframes.
Simplified and reduced to just the basics, here is how it works: https://thebarkworthynotes.com/the-entry-model
The Discord offers LIVE VIDEO AND VOICE GUIDANCE (full member tier only).
