Daily Chart Explanation: - Price broke the Ascending Channel. - Price is currently on a Pullback to the Ascending Channel. - Bearish Divergence on MACD. - If price starts going down in 7746, potential to move down towards the Support Zone at 5925. Our Weekly Vision supports this Short Idea. Check it out! Weekly Vision: Updates coming soon!
3 hours seem to work the best for futures since they trade 24 hours, NQ now showing oversold RSI with positive MFI divergence which means a gap up on Monday. I'm sure they will tie some BS news top it as usual, either another rate cut or some stupid promise by the Chinese. In the event that the market gaps down on Monday, I would go full throttle on weekly call...
Yesterday, I outlined that the price may retest the lower band of the Bollinger Bands and that won't change the bias. In the overnight session the sellers brought the price to that level offering the RTH buyers a long opportunity right from the getgo. A push back to the middle of the bands was a reasonable reaction. The remaining session was choppy awaiting for...
Break of the channel in pre-market set the morning session bias. Feels like a dejavu. If you look left you see a similar pattern in play. The market is not conducive to a big move. This week is full of events and that what makes that action. The bias remains neutral. The price is in the middle of Bollinger Bands. If we see some selling pressure the lower band...
Yesterday's momentum into the closing dominated today's session. The price channeled up and got close to ATH. Not much has changed to infer what the market is heading. It may stay within the new balance for awhile and consolidate before the next move. Watch for the channel break up or breakdown to get a clue. Next week could be telling. 07/26/2019
The 7940, a monthly point of control, rejection right from the getgo set the tone for today's day session. A trending up price action and momentum broke the recent balance to upside. Market is in uncharted territory making new highs. This is happened ahead of the big techs earnings and GDP report later this week. What we need to see that this breakout sticks ....
Right off the day session opening the market offered a short opportunity. Failure to take out the over-night high attracted the sellers. Plus this is all about risk/reward. The upside was questionable. The smaller timeframes were flashing overbought conditions. As you can see from the chart the sellers brought the price to the dotted line. The oversold condition,...
Responsive buyers were active the entire session. Bottom of the balance, oversold condition and a false breakdown created a buyers revenge trade. This is one of the potential scenarios I outlined in my previous post. The market is in the balanced state. Until the balance is resolved we can see swings back and forth that mean nothing. The challenge is to...
It's been awhile since my last update here. However, As a day trader of NQ I post many updates before a day session starts and during the RTH on Twitter. If you are interested you can follow me there: @ivs_futures. The futures are in the uptrend looking for a new top. The momentum is diminishing so the volume. A long time ago I put a projected area where the...
1H Chart Explanation: - Price broke the Descending Channel and is currently on an Ascending Trendline, against the Resistance Zone. - Bearish Divergence on MACD. - If price breaks the Ascending Trendline, potential to move down towards the Support Zone. Check out our previous Analysis on the Related Ideas. Updates coming soon!!!
1H Chart Explanation: - Price is on the Top of a Descending Wedge, on a minor Ascending Channel and against a Resistance Zone. - Bearish Divergence on MACD. - Price is against a Resistance Zone. - If price breaks the Channel, it has potential to move down towards the Convergence Level (Support Zone + Bottom of the Wedge). Updates coming soon!
Targets on chart.
Bearish and bullish targets on chart
Neutral Call - Feels like a choppy week. A short trade possible if we get to the $2911 Gravity Point.
Bearish targets: 7500, 7476, 7460, 7416, 7376. Bullish targets: 7568, 7603, 7637, 7684, 7715.
I don't know how to see accurate volume traded on this, which is a big help in determining the validity of head and shoulders patterns, but this is something to keep an eye on in the next week or so.
This looks like a confirming rebound, let see how long this lasts. Carefylly opened some longs, fb, missed ttd, etc.
Targets: 7461, 7500, 7530