The topic in this video is trading the Nasdaq Futures with the Tradershelpdesk indicators using a short Nadex Touch Brackets, which allows traders to minimize their losses while potentially maximizing their profits.
Yesterday, the Nasdaq daily chart indicated a small double top formation, indicating that today the market would go down. Additionally, the Stochastic, RSI and ADX were overbought. This is one of my favorite setups because it results in a big move (typically).
Going down to the 45 minute chart this morning, price was at the red ATR and formed a bearish bar indicating sellers stepping back into the market to drive prices down. On the 12 minute chart, another double top formation came in. This is one Nadex touch bracket to the short side.
After entering the short touch bracket, price moved down and the Stochastic became oversold. I opted to take profits — it’s my job.
After moving up, forming an additional double top formation, I shorted another touch bracket with even less risk. Again price moved down as anticipated and I took profits when the Stochastic was oversold again.
The Tradershelpdesk indicators are available for TradingView, Multicharts, NinjaTrader and TradeStation.