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NQ PLAN | JANUARY 30, 2023Expecting a balanced day with the idea of taking longs and shorts toward the 12180-12220 area. What do I mean? I think that as long as the market is bidding 11962 / 12048, my expectation is the 12185 area can develop as a POC (high volume area) in this distribution. Ideas for the day... Look for long opportunities into 11940-962 targeting 12048 / 100 / 184. Look to sell rallies above 12264 target 191 / 128. On a larger timeframe, it is hard for me to be overly bearish as long as we do not close beneath 11962. In the event of a daily close below 11962 I will expect the market to retest the 11848 bid from last week, and determine my next move from there. The two critical locations for me this week are 11848 and 12305. If 12305 bids, I expect the market to run to 12580.
CME_MINI:NQ1!
by OnlyFades
2
NQ | JANUARY 25, 202311850 and 11735. That's all I care about today. Admittedly, don't really want to short based off the overnight move and favor waiting for the bid to attempt longs. 848 was yesterday's bid. 735 was Monday's bid. Will sellers keep distribution trapped above 850? Will 735 stay bid? For now, my expectation is to lean short against the 858-872 area and observe the reaction or lack thereof at 735-693. If 735 is going to hold up NQ, I want to see 712 and 693 support Monday's bid. Beneath 680 last week's sellers may wake up and if so, I expect the market to move toward 540-585 where I expect to find a bid back into 647-722. Trade ideas: + Long 693-704 + Long 570 + Long 498 - Short 793 / 826-832 - Short 858-872 - Short 898-914
CME_MINI:NQ1!
by OnlyFades
1
NQ going into the CPI releaseHere is a quick update for those who follow my work and are not on our new site yet. It's a critical turning point here, going into the CPI report, so I want to share my thinking, and hopefully, you won't get trapped regardless of tomorrow's am outcome. I'm doing a more detailed analysis, but I will post a short version here. First of all, I pointed out last week that the 11th should mark the important high. Well, we got it! Now, it doesn't have to be a daily high, but the daily closing high! So tomorrow can be an intra-day high with am spike. I still think we could get a sort of OCT 13th CPI release action, but in another way - Gap and Dump! If CPI will come in-line or a bit higher, let's say 6.6-6.7%, it can produce a knee-jerk reaction and sell from there. There is a good fib confluence at 11600NQ for that move. Our main target got hit today, and I warned yesterday, that it should see a higher number; it did! The price has closed right at the resistance, so it satisfied the whole move up right there, in case it is just going to dump from the open Support and resistances are on the chart. I will also be doing SPX update and will post it at the end of the week here. This chart should be enough for those looking for a good analysis out there without any commitment. So don't be surprised if you see a big spike up, DO NOT chase it! If it happens, I will use that opportunity to add to my short position
CME_MINI:NQ1!Short
by RealTima
8
NQ updateI was blocked for a week for simply mentioning my site I have it under my TradingView profile, so sorry for those who follow me here. Here is a quick update of NQ and I will post ES later. We should have this move down into the channel tomorrow. One thing to note is that 29th (today) was a window for the low, so if tomorrow we see a good pullback, it will be a buy-able one I will be posting less here as I have other commitments and really dont like being blocked for something I pay for.
CME_MINI:NQ1!
by RealTima
10
NQ needs one more push to finish the right shoulderCheck the vol of today's move, its nothing! Typical Fri low vol grind If the price stays elevated, we should grind up into Mon am. But I will not be long if it will be a wall move into the close (last 10-15 min big up candle). I have a turning day on the 12th, will it be a strong move down or a gap and crap, I dont know, but we are getting close! I have a short set at 847 and 87NQ Have a great weekend, Im on the road most of the day today, will be less updates till the weekend.
CME_MINI:NQ1!
by RealTima
NQ made a double bottom when ES did make a new lowsIn my eyes NQ and RTY are stronger then ES at this moment, which is kinda strange to me as it was the leading for the whole move down since ATH. Support held today (tomorrow's support box). Ichimoku cloud (not shown here) is in a thin area, so it has a weak support and can break below the lows to finally catch up with the ES. There is similar bull trendline as in the ES chart I just posted, Im expecting it to hold to go long. Ideally we get t test it tomorrow or Wednesday am. If we do gap down tomorrow to test that trendline I will be buying longs and hold into Wed high. Gaping down tomorrow will kill short the open idea and I will be looking for a low to buy instead.
CME_MINI:NQ1!
by RealTima