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NQ1! trade ideas

Stocks Too Far Too Quick After Powell?E-mini S&P (September) / E-mini NQ (September) S&P, last week’s close: Settled 5652.50, up 58.50 on Friday and 74.25 on the week NQ, last week’s close: Settled at 19,790.75, up 212.50 on Friday and 185.00 on the week Fed Chair Powell delivered his keynote speech at Jackson Hole Friday morning. As expected, he gave the nod to a path of interest rate cuts beginning at the September meeting but emphasized the pace is to be determined and data-dependent. Most importantly, there appears to be a transition from an inflation-dependent to a labor-dependent policy trajectory. This was notable in his comments that “confidence has grown inflation is on a sustainable path to 2%,” and “it is unmistakable the labor market is cooling, and further cooling is unwelcome.” Equity markets, led by small caps (E-mini Russell 2000), had a phenomenal finish to the week. The E-mini S&P and E-mini NQ finished strongly, but merely recovered Thursday’s loss, whereas the E-mini Russell broke out, gaining 3.1% and trading into the highest level since August 1st. It is also gearing to be the last of the big four indices to recover its July 31st close, as the E-mini Dow achieved such on Friday. Speaking of July 31st, stock indices finished that session strongly on the heels of the Fed’s policy meeting but could not hold a bid through the intraday open the following day, before reversing sharply. We are certainly not calling for a repeat of August 1-5, but one must wonder, with Fed Chair Powell merely delivering what was expected, can markets hold this bid. For example, according to the CME Group’s FedWatch Tool, there is a 76.4% probability the Fed will cut rates four times this year, up from 66% before Powell on Friday. The E-mini S&P settled Friday right at major three-star resistance, a level now defined as our Pivot and point of balance, detailed below. Tech was the laggard on Friday, with the E-mini NQ again failing at the critical 19,925 mark during Fed Chair Powell’s speech. In fact, it may take NVDA’s earnings after the bell Wednesday to clear it. This rare major four-star resistance level, along with strong resistance in the E-mini S&P at 5661.75-5665.25 and 5672.75, will be most crucial as the week gets underway. To the downside, a break below major three-star support in the S&P and NQ at 5632.25-5637.25 and 19,578-19,618 is likely to encourage additional selling. Bias: Neutral Resistance: 5661.75-5665.25**, 5672.75***, 5717.25-5721.25**** Pivot: 5652.50-5655.25 Support: 5632.25-5637.25***, 5618.50-5624**, 5614.25**, 5599.25-5603.25****, 5593.25-5594.50***, 5573.50-5582.75***, 5558.50-5560.25**, 5547.50-5551.75***, 5526.75-5536.50*** NQ (September) Resistance: 19,783-19,790**, 19,832-19,867***, 19,904-19,925****, 19,981-19,995*, 20,025-20,085**, 20,150-20,180***, 20,355-20,371** Pivot: 19,750-19,770 Support: 19,705**, 19,664-19,680**, 19,578-19,618***, 19,529-19,544**, 19,462-19,495***, 19,394** Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CME_MINI:NQ1!
by Blue_Line_Futures
NQ Power Range Report with FIB Ext - 8/26/2024 SessionCME_MINI:NQU2024 - PR High: 19832.50 - PR Low: 19731.50 - NZ Spread: 226.5 Key scheduled economic event 08:30 | Durable Goods Orders Maintaining Friday's inside print range - QQQ gap below 468 Session Open Stats (As of 10:45 PM 8/25) - Weekend Gap: N/A - Session Gap 7/24: -0.32% (open > 19946) - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 395.80 - Volume: 21K - Open Int: 236K - Trend Grade: Bull - From BA ATH: -5.6% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 20954 - Mid: 19814 - Short: 17533 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQU2024
by mv3trader5
NQ Power Range Report with FIB Ext - 8/23/2024 SessionCME_MINI:NQU2024 - PR High: 19637.25 - PR Low: 19612.50 - NZ Spread: 55.25 Key scheduled economic events 10:00 | Fed Chair Powell Speaks - New Home Sales 20000 pivot short back towards daily Keltner cloud - Maintaining previous session lows ahead of what could be a high vol Friday morning Session Open Stats (As of 1:55 AM 8/23) - Weekend Gap: N/A - Session Gap 7/24: -0.32% (open > 19946) - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 401.27 - Volume: 21K - Open Int: 234K - Trend Grade: Bull - From BA ATH: -6.1% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 20954 - Mid: 19814 - Short: 17533 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQU2024Long
by mv3trader5
NQ Power Range Report with FIB Ext - 8/22/2024 SessionCME_MINI:NQU2024 - PR High: 19944.00 - PR Low: 19912.25 - NZ Spread: 70.75 Key schedule economic events 08:30 | Initial Jobless Claims 09:45 | S&P Global US Manufacturing PMI - S&P Global Services PMI 10:00 | Existing Home Sales Nondirectional volatility spike follow FOMC release - Maintaining range of previous 2 sessions Session Open Stats (As of 10:35 PM 8/21) - Weekend Gap: N/A - Session Gap 7/24: -0.32% (open > 19946) - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 395.55 - Volume: 11K - Open Int: 234K - Trend Grade: Bull - From BA ATH: -5.0% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 20954 - Mid: 19814 - Short: 17533 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQU2024Short
by mv3trader5
2024-08-21 - priceactiontds - daily update - nasdaqGood Evening and I hope you are well. tl;dr Indexes - All green, all good. Bulls want more climactic buying but have to settle with grinding it up. Bears are not building enough selling pressure to print consecutive bigger bear bars on higher time frames. Only look for longs until that changes. As of now, there is no reason not to expect much higher prices and new ath. nasdaq e-mini futures comment: Much two sided trading today but bulls closed it green and they are making higher highs and higher lows. We are close to 20000 and will most likely hit it tomorrow. Market is not stopping so looking for shorts is a bad strategy right now for most traders. Bears built decent selling pressure today but to no avail. Market refuses to go lower as of now. Above 20000 I don’t think bulls have any resistance until 20200 but that is weak resistance at best so it’s not totally out of the question that we will just continue in an almost straight line to 21000. For bears there is nothing but pain right now. They would need a strong 1h close below 19700 for a start and many stops would probably be below 19450-19500. current market cycle: Bull trend in bigger trading range key levels: 19500 - 20000 bull case: Bulls only see a 15% up move from the lows and absolutely no reason to exit longs anywhere. They want to dance while the music is playing. Buying is becoming climactic and this increases the odds of a pullback. 20000 is a big round number and we could see the start of some profit taking there but for now I have my doubts. Invalidation is below 19500. bear case: Bears are not doing much. They tried multiple times today to keep the market from advancing too much and at least they kept it below 20000 but as long as they are not even touching the 4h 20ema, they have to content with scalps and taking quick profits. The best bears can hope for is to keep it below 20000 but the odds of that are low. Invalidation is above 20100. short term: Can’t be anything but bullish above 19700. Below I turn more neutral medium-long term: This climactic blow off top is/was the grand finale of this bull trend. Perfect break above multiple patterns which I expect is a bull trap and we will test the various support lines next before the new bear trend will unfold over the next 3-9 months. —unchanged since 2024-06 current swing trade: None trade of the day: Between the orange lines was decent two sided trading but many many weird spikes and difficult trades to take. Buying 19800 was probably the best today.
CME_MINI:MNQ1!Long
by priceactiontds
NQ Power Range Report with FIB Ext - 8/21/2024 SessionCME_MINI:NQU2024 - PR High: 19819.00 - PR Low: 19787.50 - NZ Spread: 70.5 Key scheduled economic events 10:30 | Crude Oil Inventories 14:00 | FOMC Meeting Minutes Swinging inside range ahead of FOMC day - Auction continues inside previous session range Session Open Stats (As of 11:15 PM 8/20) - Weekend Gap: N/A - Session Gap 7/24: -0.32% (open > 19946) - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 409.61 - Volume: 14K - Open Int: 237K - Trend Grade: Bull - From BA ATH: -5.5% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 20954 - Mid: 19814 - Short: 17533 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQU2024Long
by mv3trader5
The NASDAQ index is gearing up for new high. H4 20.08.2024The NASDAQ index is gearing up for new high NASDAQ index made a major segment overlap up and the question is if they are going to give a pullback before continuing the growth. Along the way they formed 2 important buy zones, but there is no culmination at the top. I expect a pullback down to the zones and then buying. Most likely we will push from the nearest zone 18920-19200 and then rise to test the high near 21000. Also, just in case I have specified the far zone of buyers 18400-18670, but it is unlikely that we will reach there.
TAIFEX:UNF1!Long
by KovachTrader