You can see what the Nasdaq has been doing for the past few days - nothing. There is serious overhead resistance. Unless it breaks through the easiest path is a 61% retracement and fill the gaps below and try again. Again if the trendline get broken all bets are off. Nasdaq is better at filling gasps better the SPX.
Started on the NDX, looking for possible targets to the downside. End of month is upon us, bank holiday Monday too, traders look to square their positions, funds look to rebalance. Not trading inside the ranges, looking for a clear break, retrace and continuation pattern
Trending up currently. Nice entry earlier today.
Red = Limit Sells Green = Limit Buys Black = POC Not a lot of volume sat on the charts waiting to get filled. Looking at the market structure, there are single prints that will not act as much support below should we get to them. On the NDX there are also a few gaps now, which although don't need to get filled, generally speaking, things do get filled. My game...
Decided to post something else today. There is liquidity sat above, but today I am looking at the gaps that have been left these last few trading days. I like it when the gap gets filled quite early on, yes it is frustrating if you get suckered into a move only to see it reverse but if you get a gap and go, there is always the worry that the trend never really...
I am still following NQ closely. I find it most interesting of the instruments I trade right now. You can see how NQ ended Friday at support. I exited my NQ position on Friday for an break even trade. So what next? I have noticed in the past that when an instrument ends a week right at support or a resistance that chances are that it will gap up or down at the...
Just updating before the US session gets going. We have Flash PMI data today, so probably going to get a bit of movement. There is a lot of volumes above, these guys want to get filled, maybe they are closing out the longs before the weekend, we have to wait and see. Not personally thinking it is new sell orders into the market as we're basically in the middle of...
We are about to put a checkmark behind the current correction as the Nasdaq keeps gaining. Next, we expect it to just reach above the resistance at 13818 points and turn into another small correction. After that, there should be no more holding back and the Nasdaq should just crush through 13818 and 14064 points, respectively. Have a great weekend!
I have been only focused on NQ this week. To my analizing it is the most interesting setup of the instruments I trade to my eyes. I have been watching my usuals like GC, CL, ES and the Russell but right now they do not interest me. Right now I am long NQ with my stop loss at break even or also the top of the purple rectangle. the rectangle is the do nothing...
Not sure if we can rally another 300 points today, but there is always that possibility. The more likely scenario is that we come back down and fill the gap from yesterday as seen on the NDX
I hope you catch the big quick drop on NQ with my last idea. I also hope you exited fast before the rebound. I got out almost at the bottom. I got out after the Doji formed at the bottom. I didn’t stick around for confirmation and just took my money and run! Now NQ back up and consolidating. You can see my short and long set up. We are looking at descending...
Just a quick summary of what I look for and how I trade the "Buy The Dip" Some key levels on my charts are the overnight limit buy and sell orders, placed in the futures market at the CME. I get these from my LP and their depth of market. The start of a session is also a key level as that is where the aggressive market orders are placed and we see a rise in...
Going to bed early tonight, NQ MFI is oversold on the 3 hr chart, the fact that it didn't bounce right away tells me the tank isn't over... but at the same time NQ daily MFI did a double dip into oversold territory for the first time since 2016. Throw the rulebook away in this crazy market because there are no rules. That being said, the next target appears to...
FOMC today, so at some point, the market will go dead before the announcements. Depending on where we are in the US opening range and how much of this overnight liquidity has been taken, will determine the course of action for me today If things are bullish, then I have placed a Fib extension showing possible targets for a rip higher.
This is a bullish reversal pattern - using the overnight liquidity levels for where buyers may want to step in. Not all liquidity levels hold to the tick. And catching a falling knife gets traders' accounts killed. However, if we wait for a reversal signal/pattern at a known level where Buyers are sat. We can usually get a good entry. The pattern happens across...
NQ MFI almost oversold, but no long positions until tomorrow because I think both Asia and Europe go down overnight. Let the market whipsaw today, buy the morning dip tomorrow is my guess.
A good trader needs to be flexible and my previous target of 12700 is now a secondary target. New primary target is 12700. This is only in a case of a sell-off. I try not to predict directions, only set up triggers and this is true for this idea too. I have a long and a short trigger. Short trigger: - break below 13340 support line. Enter either on breakdown or...