MartyBoots here. I've been trading for 13 years and sharing my ideas with you I have seen this over and over again Dont get caught in the FOMO
A head and shoulders pattern shown in the top 3 Americans index. Here we have the NQ. The strategy is simple, but always remember to wait for confirmation from the pattern!
No words needed, a picture says a thousand
We are in a downtrend. Fed needs to hike so in order to have ammunition for when "it" hits the fan. Wednesday we will see.
The white Fork describes the context and where price potentially can pullback to. As we see, price reached the Centerline two times. Now, the third time it failed! The yellow steep Fork describes the current flow, which looks like it is to the upside. BUT: watch, price is outside the L-MLH. Even worse, price tested the L-MLH a couple times now, but could not push...
The index is printing recurring patterns on 1D. Symmetrical 4H Channel Up patterns, followed by same width Channel Downs (High ATR = 37.1964 on neutral RSI, STOCH, Highs/Lows), always supported by a 1D Higher Low line (RSI = 57.913, Highs/Lows = 32.000). 6640 is expected in about 1 week's time and then 7085 by mid June.
I elaborated about this pattern here on TV already a couple times. Because we have reached the Centerline and price formed this pattern, I'm confident that we could see a larger move down to the L-MLH. Let's observe how this plays out to get a good understanding of the price movement within this context. P!