NQ1
NASDAQ Extending its rise to 14350 1W MA100 turned into Support.Nasdaq (NDX) hit last Thursday our long-term target (see idea below) of the August 16 2022 Resistance and even though it took longer than anticipated, it finally filled that Gap:
The pattern that is directing the price action higher is a Rising Wedge and right now the price is very close to its top (Higher Highs trend-line). However coming off a 1D MACD Bullish Cross and more importantly having broken above the 1W MA100 (red trend-line) after more than a year, we expect an extension of this short-term bullish leg. Our target is slightly below the 0.618 Fibonacci retracement level from the November 2021 All Time High, at 14350.
Key condition for this is to hold the 1W MA100 as its long-term Support now. The 1D MA50 (blue trend-line) has been the short-term Support since January 20 (hasn't closed a 1D candle below it since then).
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NASDAQ Overbought RSI will start kicking in soon.Nasdaq hit all of our targets on this bullish leg and even crossed over the 13750 High of August 2022 (Resistance 1).
The MA50 (1d) is supporting the Channel Up and Rising Wedge patterns but the RSI (1d) is overbought above 70.00 for the 3rd straight day.
As the price is that close to the top of the Rising Wedge, overbought pressure may start kicking in soon.
Trading Plan:
1. Buy on tight SL on the current market price.
2. Sell at 14100.
Targets:
1. 14100 (top of Rising Wedge).
2. The MA50 (1d).
Tips:
1. The RSI (1d) has been on a Rising Support since September 30 2022. This indicates that every pull back is weaker and gets bought more easily, suggesting a strong long term bullish trend.
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Notes:
Past trading plan:
NASDAQ 100 E-mini Futures NASDAQ 100 E-mini FuturesCME_MINI:NQ1!
NASDAQ 100 E-mini Futures
When the Nasdaq market is described as being in a downward direction, it means that the overall trend of the market is experiencing a decline. This downward movement is typically reflected in the broad-based Nasdaq Composite Index, which tracks the performance of thousands of stocks listed on the exchange
TIP off... Just want to show an anomaly observed here... sort of a tip off on what is most likely to happen.
You see, I read Russell Napier's Anatomy of the Bear back in 2009 (not easy to get it as it is out of print!), and he describes TIP as one of the/a leading indicator ahead of the equity market.
Superimposed on the TIP daily chart is the SPY (blue line), NASDAQ (cyan line).
You can see that it does lead the SPY and NASDAQ.
However, there is a deviation from the pattern since two weeks ago. TIP has been falling hard, and the technical indicators are all bearish no doubt; but the SPY has been cranking upwards, furthermore so the NASDAQ.
So, here is the deal... either TIP rockets back up, or the equity markets dive down.
Which would it be, you think???
NQ1! 5/22 S/D LevelsNot trading this week too much but will try to post daily of my charts and ideas.
As I mentioned in my recent YT video Trasing Weekly Recap EP6, I am eyeing for some bearish retracements of last week before we kick off to end the month green at 14-15000. As for specific targets, I am going to keep them close or at the pivots reflected on the chart for longs and shorts.
Lots of news this weeks as well so staying clear from too much bias and staying more open minded.
NQ1! SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
The BB upper band is nearby so NQ1! is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 13511.25.
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Nasdaq is forming a Rising Wedge pattern!!!It seems that the Nasdaq is forming a Rising Wedge pattern near the 🔴 resistance zone($ 14,060-$ 13,610) 🔴.
I expect the Nasdaq to start falling after touching the upper line of the rising wedge pattern and the resistance zone. Nasdaq's falling target could be the next 🟢 support zone($ 12,470-$ 12,040) 🟢.
Nasdaq 100 Index Analyze (NDXUSD), Daily time frame⏰.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
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NQ1! Set To Fall! SELL!
My dear followers ,
NQ1! looks like it will make a good move, and here are the details:
The asset is approaching an important pivot point 13841.75
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.
Target - 13601.25
My Stop Loss - 13977.50
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
NQ1! NAS100USD NASDAQ 2023 22 May WeekScenario1 breakout offered a fantastic week.
Hope you had joined in the ride. Target 13740 hit, and AR tested.
Possible Scenarios:
1) Continuation Long Strategy: Long on retracement. Price has to
come down on low volume
2) Breakout failure: If there is strong volume on down move,
it may signify a yet to be completed rotation, with more potential for
downside (zone 13740 - 10710)
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
15269 13740-13913
13350 12950
Price Volume Analysis:
Weekly: Ave vol up bar close off high = potential weakness
Daily: 19 May UT bar, ave vol= = potential weakness
Like and follow if you find this useful.
Have a profitable trading week.
*For education purpose only.
NQ1! Chart for 5/18-5/19 S/D LevelsChart Link: www.tradingview.com
Not seeing much resistance on the chart for a further push up, HOWEVER, JPOW is speaking tomorrow.
Preparing for major moves tomorrow: BULLS 13980-14140 (major rejection R5 level). BEARS 13759-13792 to grab demand zone liquidity, if we fall heavy then 13677.
We have lots of gaps to the downside to cover but we have broken last August 2022 highs so I want to see this breakout continue strong or a retest and then push up higher for the coming weeks. Debt ceiling meeting soon and EOM is right around the corner too!
$NQ1! - Busy week ahead! CME_MINI:NQ1! - Busy week ahead!
We've got a busy calendar ahead of us and remember it's first day of the month - May a Lot of US Data!
1. ISM
2. JOLTS
3. ADP
4. FOMC
5. NFP
Now that's a busy week and I know for some, they will be stepping back and not trading during a hectic week ahead, but I do feel there will be plenty of opportunities. Now, banking sector is at the key spot light ahead of this week mentions of First Republic Bank will be acquired by JPMorgan after rescue efforts fail. It's not first time this year, we've heard a bank go under, and unfortunately that's part of the cycle as rates head higher, a lot of sectors get hurt, look at real estate and this is what I mentioned months prior - I well recommend researching more in depth. Keep in mind FED want a 2% target for inflation...Expectation is for the FOMC to lift rates by 25bps at its May meeting, now the real question is will they pause after this hike or carry on, whilst we got credit tightening...
Now technically looking at NQ
Highs: 13391
Lows: 12787
At the moment we've got Kangaroo action until a break to either side - If we are to break the highs, I expect next area of interest to be 13660 areas. However, we are to break the lows, I expect 12481 areas.
NQ has held relatively well within the conditions we are in, interesting times ahead.
Have a great week ahead,
Trade Journal
NQ1! 5/17-5/18 S/D LevelsCrazy longs played out today. I have been focusing on my new accounts I started and just passed them today so I haven’t been putting time to posting on social. Also some personal news affected my performance so I needed to spend my extra focus on getting through and by.
I’m looking for a play into this heavy supply zone but a rejection back to pivot P. We have approached the top trend line so I want to see continue break or reject into bottom trend line. Nonetheless we are in an uptrend and no crazy news except debt ceiling concerns in the meeting coming soon !
NQ WedgieDefinitely wedgie pattern here and MFI is overbought. Guessing RSI goes overbought as well by the end of the week.
Powell talks Friday morning, maybe that causes a tank. Nobody likes the Village Idiot anymore.
WMT and GOOS puts for earnings tomorrow, not going long today. Too early to short anything else I think.
NQ1!: Short Trading Opportunity
NQ1!
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell NQ1!
Entry - 13523.75
Stop - 13741.25
Take - 13197.25
Our Risk - 1%
Start protection of your profits from higher levels.
❤️ Please, support our work with like & comment! ❤️
NQ1! Will Move Lower! Short!
Take a look at our analysis for NQ1!.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 13516.50.
The above observations make me that the market will inevitably achieve 13324.00 level.
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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