Fibonacci technical analysis: Nasdaq 100 E-mini Futures (
NQ1!) has already found resistance at the Fib level 78.6% (21,870) of my Down Fib. The January 8th Daily candle has closed below retracement Fib level 38.2% (21,414.50), and today’s Daily candle (Jan 8) has re-tested 38.2% resistance level further confirming sell signal. My Down Fib guides me to look for NQ1! to eventually go down to hit first target at Fib level -27.2% (20,677).
NasdaqNQ1! – Target 1 at -27.2% (20,677), Target 2 at -61.8% (20,287) and Target 3 at -78.6 (20,097)
Stop loss slightly above the 50.0% retracement Fib level (21,547.50).
Option Traders: My
XND chart (Down Fib from 218.38 to 208.00) shows price to go down to Target 1 at -27.2% (205.18), Target 2 at -61.8% (201.59) and Target 3 at -78.6 (199.85)
Stop loss slightly above the 50.0% retracement Fib level (213.19).
NQ1!) has already found resistance at the Fib level 78.6% (21,870) of my Down Fib. The January 8th Daily candle has closed below retracement Fib level 38.2% (21,414.50), and today’s Daily candle (Jan 8) has re-tested 38.2% resistance level further confirming sell signal. My Down Fib guides me to look for NQ1! to eventually go down to hit first target at Fib level -27.2% (20,677). Nasdaq
NQ1! – Target 1 at -27.2% (20,677), Target 2 at -61.8% (20,287) and Target 3 at -78.6 (20,097)Stop loss slightly above the 50.0% retracement Fib level (21,547.50).
Option Traders: My
XND chart (Down Fib from 218.38 to 208.00) shows price to go down to Target 1 at -27.2% (205.18), Target 2 at -61.8% (201.59) and Target 3 at -78.6 (199.85)Stop loss slightly above the 50.0% retracement Fib level (213.19).
Trade closed: target reached
Price hit my Target 1 at -27.2% (205.18) on Jan 13, 2025 for a generous profit!Today's daily candle (Jan 13) close does not suggest price will go further down to Target 2 and so I have closed this trade with profit.
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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.