As expected, the NQ is having some pullback in the premarket in response of a strong day bullish yesterday. GC already looking strong on volume. Hasn’t made a significant move yet. On the daily, could be at an area to break out of this consolidation bullish.
On the playlist today is the usual, GC in the premarket and NQ after the bell. Will also be working on some things with paper money.
At the Bell
Later I did realize today is expiration Friday, so all the selling in the premarket made sense. I should have played NQ in the premarket with this knowledge. Could have caught some nice scalps.
As usual, the first 10 mins of the open chopped around with no general direction. Took one L in the premarket on GC (gold futures) with a valuable takeaway of having one too many indicators on my chart. Sucks to lose but happy I was able to learn from it.
Long story short, pretty much ended the day getting caught in a revenge trade. Took 2 Ls getting caught being aggressive at the wrong time in the middle of a battle between the bulls and the bears with a little felling of regret from missing an earlier opportunity.
BTW, I was completely wrong on GC with my earlier analysis on it being at a good position to pop higher breaking out of daily consolidation. Instead, it decided to let the bears in for a field day.
See my mess below.
Comment below with your opinions and questions.