"V" formation on larger time frame
top row ES from left to right 4h,1hour,15min,5min-second row NQ
(charts courtesy of TradeStation)
This is a good example in the ES and NQ futures index to illustrate the V formation we were explaining in "the trader's daily plan" educational series
We picked this illustration since it shows the principle relation that this formation is also occurring in higher time frames but still exploitable in lower time frames
all that's happening is that the sideways sequence is a bit longer
X marks the spot for a low risk entry point
the above lurking gap was conducive to the probability of this setup:
60 min NQ:
use quad exits for exit targets
you find detailed information about the "V" formation in the past posts of the "trader's daily plan"
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