NQ Futures buy the dip trade

Stats for the NQ on the day were bullish. I wanted to get long an a dip, and when prices started to rush lower, I entered. This was one of the biggest drops in weeks and I figured it was overdone. I was wrong. I had a big draw down and almost cut the trade, but because the odds of breaking the low were only 30% or so, I decided to just leave the stop below yesterday’s lows. Few bars later I was feeling better. I cut near the close for a pretty decent profit.

Notice how I broke the VSA intraday rule. I didn’t wait for a green bar to end the selling pressure before getting in. Too greedy.

nqtrade

nq

 

 

 

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