Trading Plan: Either Correction, Counter Trend or Trend

For the nasdaq there are usually 2 setups:

• In a downtrend first pullback to prior resistance level (green line above 9.30 am price)
• In an uptrend first retracement to prior support level (green line below 9.30 am price)

If the price goes clearly through the opening price another position can be added.

Which ever way it goes this position can be held till 2.30 pm or exited earlier if the daily price targets (range extension) have been hit. After the 3rd day with either a down or uptrend a counter trend to 50% level or till next day can be made.