NQ1! Supply Demand Zones 2/21/24 - Levels on BOTH sides
Chart link: tradingview.com/chart/5XGqlTVf/?symbol=CME_MINI:NQ1!
Love the strong push into overnight session, as we are now sitting in a 1HR Supply.
I am keen to see this break to either pivot point R2 (bullish) or R1 (bearish). If we can keep struggling in this zone, I want to see a pull down to retrace the huge drop we faced prior to earnings. There is a long wick off support so the pressure to grab liquidity below is possible.
For Bulls, we need to see continuation through this zone we are in to gather the orders and use as momentum up. I want to see the trend line on the 3HR break and push to the upside. Time of post we are sitting at the 4HR pivot point P, which is like the middle ground. It can literally go either way depending on momentum and news, and where the buyers and sellers want to push.
We are extremely extended off the trend line from the 1HR timeframe and lower, but on the higher timeframes we are close to reaching the upper line for possible break.
Love the strong push into overnight session, as we are now sitting in a 1HR Supply.
I am keen to see this break to either pivot point R2 (bullish) or R1 (bearish). If we can keep struggling in this zone, I want to see a pull down to retrace the huge drop we faced prior to earnings. There is a long wick off support so the pressure to grab liquidity below is possible.
For Bulls, we need to see continuation through this zone we are in to gather the orders and use as momentum up. I want to see the trend line on the 3HR break and push to the upside. Time of post we are sitting at the 4HR pivot point P, which is like the middle ground. It can literally go either way depending on momentum and news, and where the buyers and sellers want to push.
We are extremely extended off the trend line from the 1HR timeframe and lower, but on the higher timeframes we are close to reaching the upper line for possible break.
Related publications
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.