NASDAQ Weekly Outlook & Trade Plan
For this week, I am watching NASDAQ's price action with a preferred range between 21,730 - 21,130. However, with the upcoming CPI release, there is potential for a deeper retracement into the 20,830 region, should volatility pick up.
Key Trade Setup on the 5-Minute Chart
📌 Engulfing Block & Breaker Block: Price has created a strong reaction zone, which aligns well with liquidity levels.
📌 Optimal Trade Entry (OTE): A retracement into this range increases the probability of a strong reaction.
📌 Consequence Encroachment of the 5m Fair Value Gap (FVG): This further confirms a potential bullish reversal from the lower levels.
Trade Plan
🔹 Looking for price to react from the current low and move toward the highlighted liquidity zone around 21,730.
🔹 If price reaches this zone, a rejection could provide an opportunity to look for short setups.
This setup presents a high-probability trade opportunity as multiple confluences are lining up for an efficient move. With CPI data incoming, it’s important to monitor volatility and liquidity grabs before executing trades.
For this week, I am watching NASDAQ's price action with a preferred range between 21,730 - 21,130. However, with the upcoming CPI release, there is potential for a deeper retracement into the 20,830 region, should volatility pick up.
Key Trade Setup on the 5-Minute Chart
📌 Engulfing Block & Breaker Block: Price has created a strong reaction zone, which aligns well with liquidity levels.
📌 Optimal Trade Entry (OTE): A retracement into this range increases the probability of a strong reaction.
📌 Consequence Encroachment of the 5m Fair Value Gap (FVG): This further confirms a potential bullish reversal from the lower levels.
Trade Plan
🔹 Looking for price to react from the current low and move toward the highlighted liquidity zone around 21,730.
🔹 If price reaches this zone, a rejection could provide an opportunity to look for short setups.
This setup presents a high-probability trade opportunity as multiple confluences are lining up for an efficient move. With CPI data incoming, it’s important to monitor volatility and liquidity grabs before executing trades.
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.
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.