NQ1! is at a critical decision point after rejecting resistance around 21,967-22,050 and breaking down with increased sell volume. The price has fallen below both the 9 EMA (21,666) and 21 EMA (21,737), signaling a shift in momentum to the downside. Now, it’s testing a key support zone near 21,553-21,575 (daily low), which will determine the next major move.
If 21,550 breaks with strong volume, it confirms continued selling pressure, making it a short opportunity with targets at 21,400 and 21,350. A stop-loss above 21,600 helps manage risk in case of a fake breakdown. On the other hand, if buyers defend 21,553 and push price back above 21,600, it could trigger a bounce toward 21,650-21,750, offering a long opportunity.
Right now, sellers have control, and a breakdown looks more likely. However, if demand steps in at this level, a reversal could provide a solid scalp trade. Watching volume and price action for confirmation before taking a position.
#NQ1 #Nasdaq #Futures #DayTrading #Breakout #Bearish
If 21,550 breaks with strong volume, it confirms continued selling pressure, making it a short opportunity with targets at 21,400 and 21,350. A stop-loss above 21,600 helps manage risk in case of a fake breakdown. On the other hand, if buyers defend 21,553 and push price back above 21,600, it could trigger a bounce toward 21,650-21,750, offering a long opportunity.
Right now, sellers have control, and a breakdown looks more likely. However, if demand steps in at this level, a reversal could provide a solid scalp trade. Watching volume and price action for confirmation before taking a position.
#NQ1 #Nasdaq #Futures #DayTrading #Breakout #Bearish
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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.