Hanging man: to short the Nasdaq or to be sent to the gallows.This is the strongest bearish pattern ever.
Happen one to twice a year.
Cause of it, the index felt hard on early post-market.
I advice to short the NDX with x3 leverage at the closing / in the post-market. But it's probably too late for you now, a lots of traders did it and the index felt hard... Btw it's good to know for the next time you will see this pattern...! Easy money.
The last 4 hanging-man spoke for themselves...
If you want to see what happen after a hanging man (10 previous years on NDX and SPY), glance at my excel sheet:
docs.google.com
I sold at the closing (15130), took the profit from yesterday purchase (there is no small money! :D), then short with x3 leverage.
NDQ100
2022_02_02 - Mr. $NDQ - NasdaqWe are getting to that specific, and delicate moment in time, where things can go from one extreme to the other. It would depend on the hand that moves the market.
No one may predict specific targets or how things are gonna go.
There are going to be external factors that would affect one way or another. History have shown us that.
Im a guy that believes in cycles, so for now .. remember we are near 100 year cycle crash .. there are some numbers that have been appearing in personal analysis .. once over again.. 29/30/31/34/ 45 / 49/50 .. i have not seen much in 40s for now.. it means events from 30s would lead the way and show the path.
But also remember you may stablish probabilities and possibilities.. If you draw all the possible variants ... then is easy to make a plan for each situation.
It is absurd to believe that curve is going to continue, but hey.. im not here to judge jaja..
Ill be using only larger periods of time. I would go from 1 Month to 12 Month .. and dive in less periods of time once we check bigger timeframes.
I'm not taking any positions at the moment so.. that's why i'm neutral at this point.. and i would probably wont say which way .. take your own choices .. besides.. i have learned that if you scream what you would do to the four winds, market is affected.. so better quite on just observer :P
There are signs at 1M that things are coming to lower areas in volume and RSI... hard way.. but price have not move that much really, and that only means moves are coming.. probably hidden divergences between price and RSI.
ill upload and update once in a while.. when i have some free time..
Since this is a long time frame analysis, ill be posting in the long term eternally jajaja lol .. hope to still be alive to see which way it goes ;)
This is a long term commitment lol :P
As usual.. this are personal ideas and not financial advice. Use at your own risk!
Cheers!
-CharterX
SKEW Indicator and NASDAQ - point of reversal interest?SKEW is probably a little less known in the world of volatility than for example the VIX, but essentially it is a measure of the implied volatility of OUT of the money options, as opposed to AT the money options on the market like the VIX.
I suppose it may be a better comparison to check SKEW vs the SPY, but I'm a NASDAQ guy so I wanted to have a look at this in particular.
Basically the lower the SKEW is, the lower the market's expectation that the market price will move MORE than 2 standard deviations from the current price.
It's difficult to ever draw perfect correlations or conclusions, however, it does seem that once the SKEW "looks like" and this is more of an opinion of how you think the chart of the SKEW looks, but when the SKEW looks like it's made at least an interim bottom and is reversing upwards, this seems to correlate with the market/NASDAQ getting at least an interim reversal. (some instances indicated by the vertical green lines)
Difficult to put into text this kind of idea, but kind of consider, if the SKEW is a measurement of the market's expectation to get a move from current price more than 2 standard deviations in the next month, then once the SKEW "bottoms out", it means that the market isn't really expecting a big move to happen in the next 30 days (this includes bearish and bullish moves btw); but when SKEW looks like it's made an interim bottom, and looks like its starting to creep back upwards, this is the point at which market sentiment is starting to shift slowly, showing as the SKEW moves back up that there is more and more expectation of a move in price more than 2 standard deviations from the current market price.
It's at this point (the point of looking like a reversal off of an interim bottom in the SKEW) that I think could correlate to at least interim bottoms in the market; because we're precisely at the point at which SKEW shows us the market doesn't think we're about to get a big bearish OR bullish movement in price; and the fact we're at the point which it's just starting to creep upward again; shows us that the market is expecting SOME movement in price; but if it were going to be a sharp correction of some kind you would see the SKEW at a much higher level already, not just reversing off of what looks like a bottom.
Again, correlation maybe, opinion maybe, trying to get a sense of how something like the SKEW communicates what the market itself is thinking.
Food for thought.
17500 on The CardsThe bottom trendline of the major weekly channel held with the most recent push to the downside. This indicates the presence of institutional demand and the chances of new all time highs is good. There is also the formation of a bullish corrective structure as indicated by the green flag. This does not mean that there is no longer downside risk and I will be keeping a close eye on the low of the recent daily spike. A close below that may indicate a more significant correction.
I am currently long and remain bullish but will be watching the resistance of the structure. The upside target will depend on if and whether the flag breaks after 3 or 5 downward moves.
Happy trading!
Linton
NDQ100 DBD !!!!NSQ made a strong break out of 16300 lvl with nice volume candle. We have strong supply out of this move.
Its in a conslodation and forming a nice little flag.
We also have a gap. Most likely it gonna fill that gap.
4h breakout+consolidation+gap
This is a nice 6:1.
This is high quality trade.
You can enter after it break out of this consoliation or you can get in with another setup on 1h--> maybe a candlestick pattern.
Entry: 16200-16230
Targets:
1) 15900
2) 15550
SL: 4h close above 16300