Nasdaq Next Short Oppertunity MNQ
So after yesterdays rip that was projected on our previous anaysis we also hit the resistance target and reversed as projected. As usual bullish news doesn't change how much money is available and willing to be spent on the market and often times just moves price to a projected sell wall faster and is followed by longer consolidation.
The short move to the downside posted last night has been very very good BUT like each move in the market it is countered by a full on reversal or a partial retrace and continuation.
Currently targeting the retrace and continuation to the down side the real question is at what level should we start making attempts to reenter.
This is a 4hour chart and looking at past price structure and golden pocket retrace area IF IF IF price is able to brake above point A of ABC to the upside into the golden pocket would be an idea place to look for a reentry to the short side.
As far as short targets go we are keeping an open mind and waiting to see at what level price reverses and is clearly headed back down but will certainly post our projections.
The short move to the downside posted last night has been very very good BUT like each move in the market it is countered by a full on reversal or a partial retrace and continuation.
Currently targeting the retrace and continuation to the down side the real question is at what level should we start making attempts to reenter.
This is a 4hour chart and looking at past price structure and golden pocket retrace area IF IF IF price is able to brake above point A of ABC to the upside into the golden pocket would be an idea place to look for a reentry to the short side.
As far as short targets go we are keeping an open mind and waiting to see at what level price reverses and is clearly headed back down but will certainly post our projections.
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