I was watching for MNQ to bounce off the heavy call striker level 24500 as support. I'm hesitant to trade 1st touches of striker, especially as a fade in a decent downtrend on HTFs. I looked at the dinky bar chart and waited for the microrange on 24500 to break and put in a HL before looking for an entry.
HL put in but with a smaller strike at 24510 I waited for that to break and hold along with prior high at 24515 then look for price to push up to the big 24530 call resistance level. Once the BOS occurred I looked for a pullback to enter on an EMA bounce. Now I'm in a long.
Then price stalled just above my entry. A couple bounces there and I could have exited since I didn't get the follow through. At that point a HL was printed, but then the LL in that range. Maybe it will continue up? I moved my targets down to the top of that micro range looking to get out around BE.
Right idea I think but too slow. Price break down and hit my stop. Next time I'll bail sooner than later on such a small time frame if there's not follow through.
