Bearish wedge into 4 hr long term resistance.
Done for, bull trap has been sprung.
This is a trap - let's rally right into strong resistance!
This is the sort of setup that will make your week, month, or even your year. You know when you just "know" a setup is going to work? Well, I'd like to stop "just knowing" and actually define this. Because this is the sort of thing, if you traded exclusively, you'd have ridiculous W% and R stats, and crazy growth. Here's why this setup is GRADE A+: ...
TP = 7,640 hit as the 1D Channel Up (RSI = 50.527, MACD = 11.240) advanced towards a new High at 7,700. It has since pulled back to make a Higher Low and we think that this has been priced at 7,400. We are going long again aiming at the next potential Higher High. TP = 7,828.50. When 7,640 is crossed again, we will place the SL there to ensure the safety of a big...
I would cover my long positions or hedge, this might be a bull trap.
See chart for summary. I don't think the market has topped here, but I do think there's an opportunity for short term shorts to nail a momentum move down AFTER a fail at the zone. I included the EMA's here because they provide a good visual tool...a pullback to the 25 EMA + zone + price action fail....that's essentially what I'm looking for. Ideally I'd like to...
There is an opp to go long on the NQ rally if it manages to break over the resistance line and retest it successfully.
Not a whole lot to say that's not obvious on this chart. I just want to point out that getting in on a level like this, we expect a CHANGE IN STATE, from coiling range to explosion (up OR down). Part of the issue is to identify the right times to get in, when explosive moves are going to happen and THEN get in on the right entries. Two separate skills.
The NQ is one of the trappiest contracts out there, so watch what happens at this level. It's worth zooming in to the 15m just to study the aftereffects in a few days. The longer it builds up near the High WITHOUT breaking it, the more I'll be biased long. If we probe it overnight, I'll be back to cautiously looking. Ideally I either want a naked attack in the...
Overnight the NASDAQ futures formed an inverse head and shoulders pattern following Trumps tariff threats. This pattern is showing that buying has quickly entered back into the market and we may see a large short squeeze with a quick pop in price. The price target based on the pattern and overhead resistance is around 7430. As with all patterns nothing is...
We are looking for continuation lower after last week's FAANG sell-off. 7300/30 must hold as resistance, and we look for shorts towards 7200 and 7000.
My NQ Cycle analysis lined up perfectly with this move. This rotation should keep the NQ between 7300 and 7400 for most of the next month. There is a chance the NQ could fall further, but I doubt it. Pay attention to my analysis posts and follow me if you like my work. I'll keep you informed of the markets as I see them going forward.
Expect the NQ to rotate near 7400 for a few weeks before mounting enough upside momentum to breakout to the upside. We've already seen a 100% Fibonacci price extension of the previous price rotation. This move will likely prompt a brief price stall (near 3~10+ weeks) before a further attempt at an upside price breakout. Earnings will likely drive a broader...
QQQ has been looking stretched as of recently which is being emphasized by the fact that it hasn't been able to push higher in the past few trading sessions. Any move lower could put a quick squeeze on retail long traders and quickly push price back down to the 171-170 region. If this happens I am looking to be a buyer on that weakness as the short/medium/long...
Nasdaq is on a simple 1D Channel Up (RSI = 63.030) halfway from completing a very aggressive Higher High candle sequence (MACD = 87.610, Highs/Lows = 108.2500, B/BP = 183.1400). As seen on the chart it posts recurring patterns that can help us calculate the next High, which should be around 7,700. Our long's TP = 7,640.