NQ1! Supply Demand Levels 6/20We just recently broke from the 1HR downtrend line and looking to break to make newer highs. We have news releases this week for possible momentum to do just that. For this reason, I have bigger EOW targets to possibly reach. For intraday targets, targeting 0.5-1% of the NQ price.
BULLS:I am interested in breaking the top of the trendline at 6/16/23 recent highs of 15475 and then the Daily supply zone above to be filled near 15.5k.
BEARS: I like the 14981 area as we had previous bounces on the 4HR TF about 3x. If we can break through this area, I would like the 14879 zone to be filled.
Link for chart: www.tradingview.com
NQ1
NASDAQ: Correction aiming at the 4H MA200.Nasdaq reached the R1 (15,300) last week, a highly important benchmark as it is the March 2022 Top. Being overbought on the 1D timeframe (RSI = 71.117, MACD = 398.240, ADX = 42.100), the current correction comes as a natural consequence. The target is the bottom of the three month Channel Up. Ideally we aim at the 4H MA200 (TP = 14,600), which has been previously tested and held as Support on May 4th and April 25th.
Prior idea:
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Psychology of Price Action Analysis | NASDAQ and ES Futures- NASDAQ and ES futures confirmed a hourly downtrend i want to see it confirm on market cash open on QQQ and SPY to be more convincing
- the size of this pull back will determine if we can short a daily lower high if its a shallow pull back then bulls are still in completely control
NASDAQ Rejection on March 2022 High gives a strong sell signalNasdaq got rejected exactly upon touching the 15285 Resistance for the first time since the High of March 29th 2022.
This is a strong sell signal and can be confirmed after the RSI (1d) crosses under the MA line.
The long term pattern is a Channel Up since the beginning of March and the MA50 (1d) has been intact since March 15th, which makes the index exceedingly overbought.
Trading Plan:
1. Sell after the RSI (1d) crosses under the MA (white line).
Targets:
1. 14300 (Channel Up bottom and near Support 1).
2. Extend to 13520 only if we close a (1d) candle under the MA50 (1d).
Tips:
1. The RSI (1d) is printing a pattern similar to the tops of February 2nd and March 31st. Both reached the 1.618 Fibonacci level, which was our target on our last Nasdaq call (see chart below).
2. If we do break below the MA50 (1d), the MA100 (1d) could be a valid target as it has been untouched since January 20th.
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Notes:
Past trading plan:
#SP500 Alternative #SPX #SPY #ES1! A less demanding and yet more robust looking alternative would be to drop expectation of ABC flat and replace it with WXY double zigzag.
This scenario popped up just now when I erased some of the previous drawings, zoomed out and tried thinking bigger and less anchored by the previous ideas.
Nasdaq100 Big Picture Short Monthly ResistanceNasdaq100 Big Picture Short Monthly Resistance:
First, there is now big and strong Resistance and I expect the price imminently to drop under 14,500, if you look at the highs of months 2-3-4 of 2022, we are there now + the trend line of the 2 must-high prices at top.
Second, the price structure of the last Rally that we see now should make a down movement now according to the history of this symbol and how he acts.
Even if he gonna do a new high first and from here a down movement should come.
Also dont forget the Fed says that by the end of the year, he expected a recession.
There are few options to out in a profit, see photo.
the less risky one is to close 90% on take profit 1 and move stop loss to zero.
NASDAQ The weekly charts tells you what you need to knowNasdaq / US100 is approaching today Resistance A (15280), which is the High of March 2022.
The pace of the rally since the start of the year has been so strong, in fact since the week of April 24th the index has posted only green weekly candles (8 today), that the 1week RSI reached a level (76.75) it last hit almost 2 years ago (on August 24th 2020).
In the last 6 years, every time the 1week RSI hit that level, Nasdaq made a top and corrected either immediately or in a few weeks.
On all those times, there was a clear Support Zone for the RSI to place your buys (47.90 - 52.90).
Also on all cases the price corrected to at least the 1day MA50.
This isn't primarily an invitation to sell what is obviously a bullish trend but rather take some profit of the index (or shares) in order to lay off some risk and enter again at a better price as suggested by the 1week RSI and the 1day MA50.
Our long term target is the 16840 All Time High (Resistance B) by December.
Previous chart:
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NQ1!: Will Keep Falling! The Next Target is: 14700.50
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the NQ1! pair price action which suggests a high likelihood of a coming move down.
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NQ1! Will Go Down From Resistance! Short!
Here is our detailed technical review for NQ1!.
Time Frame: 5h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 15097.25.
Taking into consideration the structure & trend analysis, I believe that the market will reach 14799.50 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Day Trade Market Condition jun 14, 2023 FOMCDay Trade Market Condition jun 14, 2023
levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
NQ/ES trapping long (i could be wrong), in case nq/es trade under 15074/4412 showing DROP possible target NQ 14800 / ES 4360
FOMC 2PM est
NQ1! Set To Fall! SELL!
My dear followers ,
This is my opinion on the NQ1! next move:
The instrument tests an important psychological level 15212.00
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 14784.75
My Stop Loss -15421.50
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
Trend following trading strategy (works on all markets)This strategy is a trend following strategy to be applied when the market is uptrending. It demonstrates the significance of breakout levels which are very often retested prior to continuation to the upside.
For Trend visualisation, 10, 20 and 50 Moving averages are used.
If you apply ONLY this setup and and nothing else, you will have a statistical edge and be consistently profitable!
All other info is on the chart.
Good luck!
NQ1! BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
Previous week’s green candle means that for us the NQ1! pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 14976.75.
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NASDAQ: Approaching the March 2022 High on Fed week.Nasdaq is having an enormous rally since last December and the Double Bottom, with even the 1W time frame turning massively overbought (RSI = 74.522, MACD = 645.290, ADX = 53.716). The Double Bottom was formed on the Zone of the All Time High before the COVID crash. The market has filled a massive gap and this is why it has been rising so aggressively since the start of the year. History has shown that overbought levels can extend rallies for a short while before pull backs.
The Resistance ahead of us is R1 (15,280) and the Fed Rate Decision on Wednesday will be critical for the trend of the next 4-5 weeks. A closing above it can target the ATH regardless of the massively overbought technicals. A rejection can start a medium term decline near the Demand Zone. That would be the new entry point for long term investors.
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NQ UpdateHere is an updated NQ count. Looks like we are hardly retracing, but should get something more definitive...even if it takes a Minute. We have failed to retrace to even a .236 of these larger waves 3.
Looks like we should trade to the .786, based on proximity, but might not make it, based on symmetry and relative weakness in the past couple waves 5.
NASDAQ Can cross above 2 Channels and reach 15100 now.Nasdaq has been trading inside two Channel Up patterns, one on the medium and one on the long term, which we've outlined in all recent ideas.
The current bullish wave has identical measures with those of the 2nd part of March and 2nd part of January.
It is highly probable with the current buying momentum to seek and complete this impulse and break over both Channel Up patterns.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 15100 (Fibonacci 1.618 level).
Tips:
1. The RSI (1d) has formed a Double Top on a clear 76.55 Resistance. If it reaches that level before the price hits 15100, close the trade on whatever profit you have made.
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Notes:
Past trading plan: