Is this possibly a bull trap?
NQ1! has reached the first weekly price imbalance created during the downward rebalancing. This is also dangerous territory.
There was a slight pull back Friday afternoon right before the closing bell but we wont know for certain until Monday mornings opening Bell.
I am still curious to see the opening on Sunday.
Things to note or we have been pushing higher without any considerable pullback on the higher time frame let’s take a look ….
Daily Chart
Intra Day Chart
NQ price visibly consolidating right above the Weekly imbalance low. The exit from this consolidation will tell us a lot, until then I wil remain cash or reduce risk dramatically until direction is evident.
NQ1! has reached the first weekly price imbalance created during the downward rebalancing. This is also dangerous territory.There was a slight pull back Friday afternoon right before the closing bell but we wont know for certain until Monday mornings opening Bell.
I am still curious to see the opening on Sunday.
Things to note or we have been pushing higher without any considerable pullback on the higher time frame let’s take a look ….
Daily Chart
Intra Day Chart
NQ price visibly consolidating right above the Weekly imbalance low. The exit from this consolidation will tell us a lot, until then I wil remain cash or reduce risk dramatically until direction is evident.
Trade active
The expected Gap down we will see what happens from here...Trade closed: target reached
Not an aggressive gap down but a gap down never the less...Lets see how NY reacts to this
Note
Unable to update not sure why the idea was closed...But will add notes here this screenshot is right before Mondays Open
lets see what awaits us
Note
keep in mind that this rally has been mostly fueled by retail.
That means that Big institutions are net short...this rally is really creating a log of hurt...
What will happen if they are forced to close their positions 🤔
No matter I will always follow price action I don't speculate much.
Note
Price Action is King do not worry about the news the Price tells you the real story the rest is for the Birds
Note
No news stuck in rangeNote
Note
If Price is unable to break out of this range tomorrow then expect some range trading for a bit.
The range BTW has been clearly defined today
DO YOUR OWN RESEARCH!!!
linktr.ee/tru.capital
linktr.ee/tru.capital
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.
DO YOUR OWN RESEARCH!!!
linktr.ee/tru.capital
linktr.ee/tru.capital
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.