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Nasdaq100fut

NQ1 100 MF - WATCH MBB !!!DAILY (D1) Under heavy selling pressure very close to the MID BOLLINGER BAND SUPORT LEVEL @ 14'415 !!! [ A daily closing below this level would open the door for lower levels towards the next very important support @ 14'105 which is the KIJUN-SEN. RSI below 49.24 LAGGING LINE moved sharply down after the failure to cross over the daily clouds.. but still above both the KIJUN-SEN and the TENKAN-SEN .. for how long ??? Yesterday's price action triggered a BEARISH ENGULFING PATTERN (LONG BLACK BEARISH CANDLE) which is confirmed by ongoing today's price action, which is showing a second long black candle currently traded roughly at the bottom of this candle (intraday low being @ 14'446... V ERY IMPORTANT TO NOTE THAT ON THE UPSIDE THE WEEKLY LEVEL OF THE KIJUN-SEN @ 14'855 which also coincides with the TOP OF THE DAILY CLOUDS AREA, did not hold and the breakout of this important support level triggered a downside move acceleration towards the 14'500 area . As mentioned previously, today's closing level will give an important information for further development as a failure to clearly recover above the top of the daily clouds area would continue to keep this ongoing selling pressure live. As usual watch shorter intraday time frames to get clues and intermediate signals which will help you to validate or invalidate the implications above mentioned in the daily time frame. Last but not least, in looking at the weekly picture we can see that the NQ100 is again currently traded in the clouds area .. IRONMAN8848 - Jean-Pierre Burki
CME_MINI:NQ1!
by Ironman8848
Nasdaq 100 E-mini-Futures - D1 - MAJOR DOUBLE TOP IN PROGRESS !M1 : Still in its ongoing uptrend channel. May closing level will give clues for June. W1 : Under the influence of a major double top formation trigger level being @ 12'207 Last week price action triggered a low of 12'915 which hold Kijun-sen level ! Nice recovery triggered by this rejection and as a result W1 closing level is above the cluster of MBB and TS.. but still below the ongoing downtrend price action which took place from the peak @ 14'071 D1 : Very thin clouds support area hold and triggered this nice recovery seen over the last 2 sessions with a closing yesterday @ 13387, which is also, roughly the level of TS @ 13367. Also below the ongoing downtrend line resistance. H4 : In a recovery mode, 50 % Fib ret @ 13'466 (KS on D1) filled, As already seen in the past the 13390-13400 is an important area as it has been a former support which now became a resistance to break ! A successful breakout of this resistance area would put the focus on the current downtrend line resistance, currently @ 13'440 ahead of 13'473 61.8% Fib ret, both levels coinciding with the H4 clouds resistance area. H1 : Breakout of the clouds triggered an upside acceleration from 13'170 to 13'427 Above KS, MBB and TS M30 : Same as H1 and TS has already been tested twice = Warning of a potential trend reversal ! M15 : Same than H1 and M30, but currently below TS = second warning M5 : Currently in the middle of a sideways/slightly downtrend channel and caught between KS and MBB. Watch the clouds support area as a good indicator; a failure to hold above the clouds would give additional warning of a potential trend reversal CONCLUSION : ON A BROAD BEAR TREND. IN ORDER TO NEUTRALISE THE ONGOING DOWNSIDE RISK WE NEED TO SEE A SUSTAINABLE RECOVERY ABOVE 13'700 ON A DAILY BASIS AND ONLY THIS WOULD FORCE TO A REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS. Ironman8848
CME_MINI:NQ1!Short
by Ironman8848