NQ Power Range Report with FIB Ext - 10/20/2023 SessionCME_MINI:NQZ2023
- PR High: 14855.50
- PR Low: 14828.00
- NZ Spread: 61.5
No Significant Economic Events
Continuing daily inventory decline
- Wide session open on low volume compared to prev session
- Maintaining NZ range leading into London hours
Evening Stats (As of 2:05 AM)
- Weekend Gap: +0.08% (filled)
- Session Gap 10/18: -0.10% (open > 15060)
- Session Gap 8/2: -0.33% (open > 15807)
- Session Gap 7/20: -0.11% (open > 15939)
- Session Open ATR: 250.89
- Volume: 37K
- Open Int: 254K
- Trend Grade: Neutral
- From ATH: -11.6% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 16105
- Mid: 15247
- Short: 14675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
Highvolatilityfunnel
Descending DragonHVF pattern seems to be developing. Consolidation has developed in the neck of the funnel (aka Channel). Thus far the Smart money seem to have pulled out already indicated by the OBV, and RSI hit overbought levels. Entry @167 for the short, or you could wait at the breakout of the orange funnel. Intraday BIDU as shown impulsive up spike but still has not broken channel resistances or support. OBV also appears to have bottom out so this could be a good setup for a Long position if price action breaks the channel to the upside and OBV begins to reach upward.