NQ 4H Analysis - Range Bound
The NNQ 4H is currently in a range, marked by a shifting structure to the downside. Despite attempts to regain momentum, buyers have been unsuccessful, as demonstrated by the annotated sweep on the chart. We are now in a holding pattern, waiting for a direction to be chosen. While the overall trend remains bullish, we are in a cautious phase due to the market forming a balanced range.
There is a bullish internal structure flip, followed by a notably bullish 4H bar. However, the sweep above previous highs indicates that buyers were not ready to drive prices higher. Attempts to rebound on every previous internal lower high fell short, leading us back to where the internal structure flip occurred.
Buyers emerged again off of the internal structure flip high, but unless a higher low is formed and prior highs are finally surpassed, it seems that the momentum is dwindling. This could potentially signal the onset of buyer exhaustion and early indications of a larger timeframe pullback at the beginning stages.
There is a bullish internal structure flip, followed by a notably bullish 4H bar. However, the sweep above previous highs indicates that buyers were not ready to drive prices higher. Attempts to rebound on every previous internal lower high fell short, leading us back to where the internal structure flip occurred.
Buyers emerged again off of the internal structure flip high, but unless a higher low is formed and prior highs are finally surpassed, it seems that the momentum is dwindling. This could potentially signal the onset of buyer exhaustion and early indications of a larger timeframe pullback at the beginning stages.
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