another slow, nonvolatile daily session. i came late to the charts again. so the most productive part of the day was over. what attracted my attention was the intermarket setup, three out of four markets were breaking daily high, only nasdaq (as usual) was losing. better observable on higher time frame.
this intermarket analysis tells me that there is going to be strong buying pressure on e-mini nasdaq. it is undervalued and hence it should move up, right? - im short against the heady buyers whose i consider less smart in this situation - buying liquidity is going to be abused for selling/moving the market price lower, and i speculate to that thing.. this is how the orderbook (footprint chart) looked like at that level
the second trade was nq long, the timing entry was very precise due to a combination of volume analysis with a break in a micro consolidation and times and sales tape where it was observable that the side of sellers is stupid and the side of buyers is smart - i am going with the smart one :-) .. low heat entry
the whole picture
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