RSI and ADX Combination Signals Top in the NQ

Just your average 500 point daily range in the NQ. Ha! The NQ has been on a tear over the past few weeks, making shorting and identifying meaningful reversals challenging. Today, using a combination of RSI and ADX, our Extreme Turn was able to spot the combination of oversold conditions AND decreasing momentum thus producing the first sell signal on the 60m time frame since July 1.

Our models are short from 11018 with a trail stop just above the visible POC at 10715.

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Exited a trailed down on the move lower with final stp at 10650. All flat.

تعليق:

This NQ sucker wen nut balls yesterday and did fire off another signal at the symmetric double tops. We got short small and then traded long from 850. Lots of opportunity in this market.