NQ1! Will Grow! Long!
Take a look at our analysis for NQ1!.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 13293.75.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 13558.50 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Nq1!long
NQ1!: VOLATILITY CYCLES / POINT OF CONTROL / OVER SUPPLY / MACRODESCRIPTION: In the chart above I have provided a MACRO analysis on NQ1! which runs a similarly distinctive path to SPY, SPX, & ES1!. This chart is designed to create a clear separation between periods of volatility and shift in momentum. Each cycle beings and ends in the given order of OVERSOLD to OVERBOUGHT to OVERSOLD.
POINTS:
1. Deviation of 900 Points per Supply & Demand Channels. Deviation of 1,000 Points between Supply & Demand Pockets.
2. Current Cycle END was predicted by taking the average of past 4 cycles which results in a MEAN VALUE of 78 BARS.
3. Green Vertical Lines: Beginning of Bear Market & upcoming end of following cycle.
4. Orange Vertical Lines: Represent flip in MACD trajectory and overall shift in Pice Action Momentum.
5. ARCS represent OVERSUPPLY Price Action Momentum where price action lacks consolidation and is making brief REACH OUT of past Supply & Demand Pocket.
IMPORTANT: Current POINT OF CONTROL stands at 11,700 in relation to current Supply & Demand Pocket.
MACD: MACD EMA flips on the DAILY timeframe are indicative of a shift in in momentum.
RSI: A common RSI level of 35 is reached throughout every cycle which is indicative of an upcoming shift in trend.
SCENARIO #1: In a BULLISH scenario price action must find support at 11,700 with either a strong bounce from bottom of DEMAND ZONE OR SIDEWAYS CONSOLIDATION at the very least.
SCENARIO #2: In a BEARISH scenario price action breaks past 11,700 to the downside and further continues downward momentum to 10,700 which would be the SPY LEVEL EQUIVALENT of 360.
FULL CHART LINK: www.tradingview.com
CME_MINI:NQ1!
No one expects another gap down tomorrow...It seems everyone is bullish now and desperate for a move up.
There is a chance of seeing the whole move down to 12700-20 by tomorrow tomorrow am!
I will be shorting any bounce with a tight stop and going long at 12700-20 for a good size move up, maybe even to new highs.
The R/R is much better at 12700-20 then at this point.
Have a good night
NQ main support for tomorrow 13273 and 13210Im looking for a good size gap down tomorrow to mark the top, otherwise we can still press higher .
The low should come either on the 22 or 26th. I personally like second date as it would be a perfect long setup going into the long weekend bull trap.
Ideally next high (if we topped) is a lower high. Also will be looking at turning week, if we close lower then next one, then the low might come on the week 29th and high before Sep OPEX.
Since cycles are inverted a lot (usually the case in Aug), I have no clear picture of the maj top being in place or when it comes. I got 2 dates, early Sep or Sep OPEX week.
Im short going into the next week.
Will start looking at swing short position only after we break 13115
NQ almost hit my target zone, expect a test of the mid channelNQ almost hit my target zone, expect a test of the mid channel if not more.
I still day trade this, no swing positions, only ES from Fri.
All depends on how we will be closing today, might enter with either long or short for tomorrow
Tomorrow is a turning day, it can be a move in one direction.
VIX has a long signal, be careful if long indexes
NQ is in no mans landNQ is riding the broken down trendline and the top of the channel, also its near the mid of the downtrend channel.
I have no good feeling of a direction at this point. Ideally we sell in am and then rally up again to top sometime tomorrow, targets are still 12100-20 and if above, then its bullish and it goes to 12400+
Volatility is going to start rising from the next week, so much biger moves are coming into mid of the month to 20th
NQ isnt looking good for the bulls hereResistance is very strong in this level, can stretch to 825 for a perfect touch.
11800 call from am got fulfilled, it's very close to it, I have shorted for a quick trade here, looking for a possible real move down off these highs, might not come till after the FOMC
NQ must hold 11500-30 zone! Bullish setup into the EOMNQ is setting up a fake breakdown imo and should be stopped at 11530 zone, 11500 is a must hold for today for any bullish setup going into the EOM
Im expecting a good size rally starting today or tomorrow am, so a long setup from a bit lower is something what Im looking for