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Nasdaqidea

Nasdaq: Taking a Break… 😮‍💨Currently, Nasdaq is taking a break from the exhausting ascent it has realized from the low of wave iv in turquoise. However, we expect the index to activate some more upwards momentum, expanding wave v in turquoise so that a higher top of wave i in orange can be reached. This done, Nasdaq should turn downwards and drop below the support at 13 566 points to develop wave ii in orange. There is a 40% chance, though, that the index could bounce off this mark, finishing wave alt.iv in turquoise instead. In that case, we would expect a delayed expansion of wave alt.ii in orange and thus a delayed drop below the mentioned support line.
CME_MINI:NQ1!
by MarketIntel
$NQ1! - Busy week ahead! CME_MINI:NQ1! - Busy week ahead! We've got a busy calendar ahead of us and remember it's first day of the month - May a Lot of US Data! 1. ISM 2. JOLTS 3. ADP 4. FOMC 5. NFP Now that's a busy week and I know for some, they will be stepping back and not trading during a hectic week ahead, but I do feel there will be plenty of opportunities. Now, banking sector is at the key spot light ahead of this week mentions of First Republic Bank will be acquired by JPMorgan after rescue efforts fail. It's not first time this year, we've heard a bank go under, and unfortunately that's part of the cycle as rates head higher, a lot of sectors get hurt, look at real estate and this is what I mentioned months prior - I well recommend researching more in depth. Keep in mind FED want a 2% target for inflation...Expectation is for the FOMC to lift rates by 25bps at its May meeting, now the real question is will they pause after this hike or carry on, whilst we got credit tightening... Now technically looking at NQ Highs: 13391 Lows: 12787 At the moment we've got Kangaroo action until a break to either side - If we are to break the highs, I expect next area of interest to be 13660 areas. However, we are to break the lows, I expect 12481 areas. NQ has held relatively well within the conditions we are in, interesting times ahead. Have a great week ahead, Trade Journal
CME_MINI:NQ1!
by Trade_Journal
NQ1! NAS100 NASDAQ 2023 MAY 08NQ scenario 4, rotational trade yielded 470pts from 3 trades. Test and Reject/Accept setups consistently offers low risk trades. NQ was in rotation for a month now. Friday saw a low volume mark up, and could be trapping longs. Previous scenario planning remains. Given the rotation has progressed thus far, inexperienced traders should just wait. CAPS FOR EMPHASIS-MY TENDENCY TO TRADE SCENARIO4 WILL NOW BE DIMINISHED. Possible scenarios: 1) Market stuck in a 250pt range, wait till supply/demand is resolved Then: 2) Breakout of upper boundary to test 13740 = long at support of upper boundary of range 3) Breakdown of lower boundary of range = Short on rejection of 12950 4) The longer the rotation, the riskier will be rotational trade. Long on support between 12950-13040 | Short on rejection between 13350-13212 Volume Analysis: Friday's mark up on average volume, with close away from the high, is weakness on the bar. Price reaction levels: Short on Test and Reject | Long on Test and Accept 14361 13740 13350 13316 12950 10710 - 11068 Remember to Like and Follow if you find this useful. Have a profitable trading week ahead. *For educational purpose only.
CME_MINI:NQ1!
by paradox677
NQ1! NAS100 NASDAQ 2023 Mar 20 WEEK NQ1! NAS100 NASDAQ 2023 Mar 20 WEEK The daily Ultra Lo Volume down bar and support at 11930 provided good meat for week of 13 March. Market finally broke through 12418 and is near supply zone 12810-12950. Let's see how price reacts to this level. Possible scenarios: 1) Possible formation of rotation 12950-11930 = trade at boundary of zone 2) Long on retracement 3) False break of 12950 for short Volume Analysis: Weekly = High vol up bar close off high = minor weakness Daily: Ave volume S>D bar into an area of previous resistance Price reaction levels: Short on Test and Reject | Long on Test and Accept 14361 13587 12950 12950 11930 Remember to Like and Follow if you find this useful. Have a profitable trading week ahead.
CME_MINI:NQ1!
by paradox677