NQ - Supply & Demand

niko · Apr 18, 2014

eminiman414 said:
Created a prep work template if anyone wants to critique it.

Prep Work: 8:00am - 9:00am

1. Currently what is the current day high, low, and mean? What has happened overnight? Have any ranges formed? Hinges? How have we moved overnight?

2. What is the prior day high, low, mean? Using a 1min or 5 min interval define the price movements of yesterday.
- What are prices of interest?
- If ranges were created what were the extremes and the mean?
- If it was a trending day where and how did it travel?
- If a hinge formed at some point what was its mean?
- What happened through the morning, lunch, and afternoon?
- Where did we sit, where did we bounce, where did we consolidate

3. Use a 15min, 60 min, and Daily interval and observe what obstacles might stand in traders way.
- Where are important swing points?
- Are any ranges to be found in the area or around where price currently sits? If so what are the extremes and mean?
- Are any hinges visible? If so what is its mean?
- Are any channels visible? If so what is its upper limit, lower limit and mean?
- Where does price sit in relation to any of the findings above.

Keeping SLA in mind create a list of if/thens based on the road map created however remember to keep an open mind and let price tell you what to do.

Keep in mind that areas of value could be created during the session in which you will have to analyze and be ready for in real time. If this happens what are the extremes and what is the mean?

A 50% area of a previous move could be an area where traders continuously revert to throughout the session. Be aware of this and the price movement around this area. If this happens what does it mean?
More...

Good stuff

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NQ - Supply & Demand

niko