NQ1! Supply Demand Levels 7/5
Link to chart: tradingview.com/chart/5XGqlTVf/?symbol=CME_MINI:NQ1!
After a low volume start of the week, we are running into news from 7/5-7/7. I am expecting to see some volatility due to the news releases we have this week and the start of July. We are currently sitting between zones on every timeframe, but most importantly, we did break out of the 4HR downtrend from June 16th. We are sitting near the beginning of that downtrend so I am interested to see if we can break upwards and out, or if we fail below and retest back.
As always, staying open minded to what can happen next!
EOW
BULLS: A push to 6/16 highs of 15475 to 15524 (R1 Pivot on the 4HR).
BEARS: A retest of 6/28 highs once more where price consolidated before at 15268 to 15228 to 15176 (P Pivot on the 4HR).
After a low volume start of the week, we are running into news from 7/5-7/7. I am expecting to see some volatility due to the news releases we have this week and the start of July. We are currently sitting between zones on every timeframe, but most importantly, we did break out of the 4HR downtrend from June 16th. We are sitting near the beginning of that downtrend so I am interested to see if we can break upwards and out, or if we fail below and retest back.
As always, staying open minded to what can happen next!
EOW
BULLS: A push to 6/16 highs of 15475 to 15524 (R1 Pivot on the 4HR).
BEARS: A retest of 6/28 highs once more where price consolidated before at 15268 to 15228 to 15176 (P Pivot on the 4HR).
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