NQ1! Supply Demand Levels 6/25I am expecting more movement from Wednesday to Friday due to Powell speaking. Staying open minded to what may happen as we have been consolidating and getting tighter in range.
BULLS: 15264 as we hit this area multiple times, it is the double top of Jan/March 2022, and we can't seem to break over it now. We have a 3HR supply and 15M supply to break through. If we can get through this area, looking for a push to 15475 6/16 highs to retest by EOW or by next week.
BEARS: 14910 is the next 1HR S1 pivot target that I would like to see hit first. This would retrace some of the bull move from 6/12 and seems like a solid retracement. If we can break through this level, 14780-14800 looks like a solid 4HR demand area and where we consolidated before the big break to the upside. This seems like a promising bounce area.
These targets may seem out of reach if based on a slow volume week, but with news speeches, we may get the momentum to move 300-500 pts this week (.5-1% a day).
Link to chart: www.tradingview.com
NQ1
NASDAQ Final pull back pending unless the 1day MA50 breaks.Nasdaq / US100 hit the top of the long term Channel Up and Resistance A (March 2022 top) and got rejected.
Based on the previous Higher Highs, the rejection should form a Channel Down / Bear Flag.
According to that, there is one final pull back pending to 14730. Buy it and target 15500.
If anyhow the price crosses under the 1day MA50 or closes the 1day candle under the 0.786 Fibonacci level, sell and aim at the 1day MA100 that is unchallenged since March 13th.
There return to buying, which is also the bottom of the long term Channel Up, and target 15500.
The RSI's Rising Support can be used as a great additional indication of a buy (hold) or sell (break) inside this long term Channel Up.
Previous chart:
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NQ1!: Bullish Continuation is Highly Probable! Here is Why:
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the NQ1! pair which is likely to be pushed up by the bulls so we will buy!
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NASDAQ100- Corection, then higher againNASDAQ100 comes down from 161.8% Fib, so can be higher degree wave 4, either deep in price or sideways in time. In either case, it can take a bit more to complete correction based on Fibs and time compared to wave 2. First support is here 14800-15k, then its 14400-14600,
US100 BUYAccording to the analysis of the Nasdaq index. There is a high probability of a decline. The price reached a strong resistance level at 15,200. This resistance can be seen on the daily chart. Also, when it reached this area, it formed a strong double bottom pattern. With the formation of very negative candles confirming the great pressure of the sellers until the index declines. good luck
NQ1! Will Go Down From Resistance! Short!
Take a look at our analysis for NQ1!.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 14985.75.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 14352.50 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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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
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.
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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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