I'm expecting NQ to go lower in the next few days, there is unfinished business around 15,100 and even lower. I'm positive to stay above 15k for now, if not, then I would just sit there and wait for more consolidation at previous support.
For today (8/26/2021) my plan is simple, I have a trendline on the hourly timeframe, I would like to watch it and see how we react to it during hours. There is a strong support area at around 15,315 I'm expecting this support to be tested, now it is possible to break that support and continue lower, that's what I expect, if the volume is up and cumulative delta shows some bullish momentum, then I will go long and unload half my position at the trendline.
All in all, I will just watch how we react to this support and the trendline.
Off course I will look at how we do on 20ema and 50ema, but my guess for today is that we shouldn't get much movement, it's pretty wild lately.
because of the nature of NQ, if I go long I will grab some option calls on some tech companies, the same thing if I go short.
For today (8/26/2021) my plan is simple, I have a trendline on the hourly timeframe, I would like to watch it and see how we react to it during hours. There is a strong support area at around 15,315 I'm expecting this support to be tested, now it is possible to break that support and continue lower, that's what I expect, if the volume is up and cumulative delta shows some bullish momentum, then I will go long and unload half my position at the trendline.
All in all, I will just watch how we react to this support and the trendline.
Off course I will look at how we do on 20ema and 50ema, but my guess for today is that we shouldn't get much movement, it's pretty wild lately.
because of the nature of NQ, if I go long I will grab some option calls on some tech companies, the same thing if I go short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.