NQ Monday Bank Holiday
Updated
Good morning everyone !
Today is a bank holiday and would like to watch price print and just simply observe.
As a trader we must understand that we are in the business of making smart financial decisions and growing but also conserve capital.
I did outline theNWOG or New Week Opening Gap and the median or 50% of the entire gap.
NWOG can sometimes attract price back to it or use it as support and or resistance so we will pay close attention to it this week as price reacts to it.
For now because it is a holiday and market may move a little lethargic, we can expect some consolidation.
if I absolutely had to try and define a directional bias on the 15 min I would think they slowly move price up during open at 9:30 towards NWOG and then drop slowly towards the Daily Gap I have labeled below.
considering DXY may push up I can see NQ and ES drop lower as a confluence.
DXY CHART
Nasdaq on 15 Min
Today is a bank holiday and would like to watch price print and just simply observe.
As a trader we must understand that we are in the business of making smart financial decisions and growing but also conserve capital.
I did outline the
NWOG can sometimes attract price back to it or use it as support and or resistance so we will pay close attention to it this week as price reacts to it.
For now because it is a holiday and market may move a little lethargic, we can expect some consolidation.
if I absolutely had to try and define a directional bias on the 15 min I would think they slowly move price up during open at 9:30 towards NWOG and then drop slowly towards the Daily Gap I have labeled below.
considering DXY may push up I can see NQ and ES drop lower as a confluence.
DXY CHART
Nasdaq on 15 Min
Note
Monday price moved up to NWOG as expected and went all the way up to the 1HR time frame SIBI labeled. Now Tuesday I'm looking to see how price will react on the SIBI we have already tapped 50% of that gap so we can expect price to come down and make its way to the sell side below marked on the D time frame.
As a trader we have to remember that we are professional decision makers and must make the right move we will wait for 10 am NY local time to see if we have any entries.
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