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u/OpinicusTrades 4 days ago Stock Index Futures

1.5R in NQ this morning, using a straight forward long setup (full breakdown)

I am a futures trader who primarily focuses on Nasdaq (NQ). This morning's setup showed a gap lower, with a sideways structure developing just before the regular market open. With this context, one of my favorite setups involves price looking beneath the overnight low and quickly reclaiming, which I call a spring setup. The spring setup did not materialize, as price spent too much time beneath the overnight low (ONL). When that happens, my game plan is to wait for a reclaim and retest of the ONL for a long entry, targeting the session highs and beyond. This is one my favorite high probability setups and provided a solid 1.5R today.
5 comments held Reddit says 0 on reddit ↗
  1. u/Immediate_Mail_9077 1 4 days ago
    nice breakdown, that reclaim level is clean. i trade NQ too and the ONL retest after the failed spring is something i need to add to my playbook
  2. u/Savings_Age5703 1 4 days ago
    Love the simplicity
  3. u/imeowfortallwomen 1 4 days ago
    looks good, i might backtest this. i was itching to go long today too but stopped myself and walked away bc this setup was not part of my playbook
  4. u/imeowfortallwomen 1 4 days ago
    also what is LWH?
  5. u/VisualCheek2928 1 4 days ago
    I had an ONL bounce setup, but on backtesting it didn't hold up. On MNQ.