NQ short to Sell-Side Liquidity levelNQ pushed below the weekly opening level. This is an indication of us heading lower to a greater Sell-Side Liquidity level. I am targeting 19,104.00 Liquidity.
UNF1! trade ideas
Mag 7 Earnings and Fed PlaybookE-mini S&P (September) / E-mini NQ (September)
S&P, last week’s close: Settled at 5499.00, up 57.75 on Friday and down 54.75 on the week
NQ, last week’s close: Settled at 19,174.50, up 182.25 on Friday and down 538.50 on the week
We are embarking on one of the most pivotal weeks of the year. Earnings announcements from the largest companies surround the Federal Reserve’s policy decision Wednesday afternoon. There is only a 4.1% probability the Federal Reserve will cut rates at this meeting, but the committee is expected to telegraph a September rate cut. In fact, the CME Group’s FedWatch Tool is pricing in a September cut with 100% certainty. As for earnings, according to The Transcript there are 171 companies in the S&P 500 reporting this week. Furthermore, four out of the top five or four out of the top six (if you combine GOOG and GOOGL). Bill Baruch joined the CNBC Halftime Report on Thursday, where he reiterated his confidence in strong big tech earnings that will help alleviate waning confidence and reinvigorate its outperformance.
E-mini S&P and E-mini NQ futures again tested a critical area of major three-star resistance at 5528.75-5533.25 and 19,356-19,390 this morning. These pockets of resistance are the first in a wave of thick overhead supply the indices must chew through in order to recoup the July 23rd close, when GOOG and TSLA reported. The July 23rd settlement aligns to create rare major four-star resistance. To the downside, price action associated with a choppy Thursday and Friday trade helps build out supports, most importantly that which aligns with Friday’s weekly settlement; while holding above here, we see the trade most constructive in attempting higher prices.
Bias: Neutral/Bullish
Resistance: 5528.75-5533.25***, 5542.75***, 5551.50-5553.75**, 5572.75-5576.75***, 5599.25-5611****
Pivot: 5522.25
Support: 5508.50-5509.25**, 5499-5501.75***, 5478.50-5482***, 5470-5472.50**, 5448.25-5453.25***, 5439-5441***, 5432.50**, 5391.25-5398.25***, 5366.50-5370.50****
NQ (September)
Resistance: 19,356-19,390***, 19,496-19,501**, 19,654-19,686***, 19,728-19,751**, 19,809-19,828**, 19,925-19,933****
Pivot: 19,250
Support: 19,159-19,174***, 19,104**, 19,040-19,060**, 18,945-18,992****, 18,883**, 18,727***, 18,645-18,675****, 18,482-18,500***
Micro Bitcoin (August)
Last week’s close: Settled at 68,775, up 3,385 on Friday and 530 on the week
Bias: Bullish/Neutral
Resistance: 71,125***
Pivot: 69,090
Support: 68,775***, 65,390***
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
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*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.
NASDAQ**NASDAQ:**
This week's forecast is for the price to fall to the zone between 18462.75 and 18204.50, coinciding with the value of a lost pivot at 18326.00.
20240726 NQI anticipate more upside during AMS and possible reversal into the downside at the end of the day. DXY reversal to the upside is crucial for this scenario.
NQ Power Range Report with FIB Ext - 7/29/2024 SessionCME_MINI:NQU2024
- PR High: 19242.25
- PR Low: 19167.75
- NZ Spread: 166.75
No key scheduled economic events
Daily print showing potential reversal long
Evening Stats (As of 12:25 AM 7/29)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 336.61
- Volume: 37K
- Open Int: 248K
- Trend Grade: Bull
- From BA ATH: -7.9% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 18675
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
NQ longNQ 4HR RSI oversold
Confluence to the upside on all indicators
Bullish divergence
Targeting TP 1if the entry level holds
NQ Forming the right shoulder NQ forming a beautiful right shoulder. Soon we'll have a dead cat bounce
NQ - Sitting On My HandsWeekly candle opened briefly in a discount, minor manipulation occurred to the upside before NQ sold off into the weekly order block located at 19,115 (28th May 24 weekly candle). ES and NQ have similar displacement to the downside for the past two weeks so i will be studying the correlation going into next week.
Array to take note of is 19,224 - 19,115
NASDAQ FUTURES Stock Chart Fibonacci Analysis 072824Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 184/61.80%
Chart time frame : C
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the Support
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Friday was choppy for NQ! This is how I traded it!Order Block entry on the 15 second chart was the best model I seen within that choppy price action for NQ on Friday. A tight 12 point stop with a 95 point profit target. Here is what I seen and how I traded it.
NASDAQ Weekly Review: Key Levels and Market SentimentWelcome to this week's NASDAQ Weekly Review, everyone!
Let's dive into our market analysis and discuss the key elements that will shape our trading strategy for the week ahead.
First and foremost, I'm bullish on the NASDAQ above the 19,000 level. If we maintain this position, it signals strong market confidence and a continuation of the upward trend. However, if the index falls below this mark, I will turn bearish. This is because the 19,000 level is a critical support point. If we lose support here, it will likely become a new resistance level, making it harder for the market to climb back up.
Currently, the NASDAQ is holding support at a crucial demand level. This indicates that buyers are stepping in to keep the index afloat. However, should this support falter, we need to be prepared for a shift in market sentiment. Keep a close eye on this level as it will determine our next moves.
This week is particularly significant because it's Non-Farm Payroll (NFP) Week, which means a lot of impactful news is on the horizon. Monday is the only day without any scheduled news events, giving us a brief period to assess market conditions without external influences.
The biggest events to watch out for are the FOMC meetings and the Federal Funds Rate announcement. These events can cause significant volatility in the market, so it's essential to stay informed and ready to adjust our strategies accordingly.
Fundamental Analysis:
**Economic Data:** Pay close attention to the economic data releases throughout the week, especially the NFP numbers. These figures provide insight into the health of the economy and can impact market sentiment significantly.
**Federal Reserve:** The FOMC meetings and Federal Funds Rate announcement will provide clues about the Federal Reserve's future monetary policy. Any hints of rate hikes or easing can send ripples through the market.
Technical Analysis:
**Support and Resistance Levels:** As mentioned, 19,000 is our key level. Watch how the NASDAQ behaves around this point. If support holds, we can expect a bullish continuation. If it breaks, brace for potential bearish momentum.
Happy trading, everyone!
NQ topping ? MaybeIt was another important week in equity markets and so many new highs but starting to hit rally objectives i look for in a rally. the high at 20983 looks critical now and could be a short-term high and if not don't think to much more slippage from up there. Green lines are Daily support areas , the green box my objective and yellow line the weekly trendline and finally the Red being the monthly trendline. Its tough picking or fishing for a top in a feeding frenzy
NQ Plan For Monday 7-29-24NQ has sold off heavily recently. I see it making a very small move higher into the inefficiency (box), likely during Asia or early London session. From there I will be looking for short opportunities down to the internal low taking out 1 or more Sell-Side Liquidity levels. If we fully inverse that inefficiency then I will be looking for a long setup.
HRLR on NQPrice today had really tough time because of HRLR which Fractal Consolidations indicator gave me, in these conditions you should be aware.
Nasdaq Going To Burst? FED/Tech Stocks ConsiderationsRisk Off Sentiment has drifted in and out of Markets based on company results in major US indexes and changes in the chance of rate cuts by the fed.
Both of these have caused selling in such Markets, but the question remains, how long will it last?
And if it does fall, here's my areas.
Today's analysis.I'm putting the analysis earlier for today, because I won't be at my pc until 10. That's how I see the market for today. I have to announce that the DXY is still consolidating and I also announce that from August 9th until August 20th I will be on vacation and will not post.
NQ | QQQ | Day trading plan 7-26-2024CME_MINI:NQU2024
Bullish Scenario
Immediate Resistance Levels:
Bullish Line: : 19,115.75
Target Price 1: 19,168.75
Target Price 2: 19,278.50
Strategy:
Entry: Consider entering a long position above the immediate resistance at 19,115.75.
Stop Loss: Place a stop loss below the nearest support at 19,041.75 to minimize risk.
Targets: Set targets at the resistance levels mentioned above. Partial profit-taking can be considered at each target level.
Confirmation: Look for bullish candlestick patterns or confirmation from volume indicators before entering the trade.
Bearish Scenario
Immediate Support Levels:
Bearish Line: 19,065.00
Target Price 1: 19,041.75
Target Price 2: 18,998.75
Target Price 3: 18,932.00
Strategy:
Entry: Consider entering a short position if the price breaks below the Bearish Line at 19,065.00.
Stop Loss: Place a stop loss above the nearest resistance at 19,115.75 to minimize risk.
Targets: Set targets at the support levels mentioned above. Partial profit-taking can be considered at each target level.
Confirmation: Look for bearish candlestick patterns or confirmation from volume indicators before entering the trade.
Summary
Bullish Entry: Above 19,115.75 with targets at 19,168.75 and 19,278.50.
Bearish Entry: Below 19,065.00 with targets at 19,041.75, 18,998.75, and 18,932.00.
Stop Losses: Adjust according to the nearest support/resistance levels to manage risk.
This analysis should be used in conjunction with other indicators and market conditions for a comprehensive trading strategy.
NQ Power Range Report with FIB Ext - 7/26/2024 SessionCME_MINI:NQU2024
- PR High: 19035.00
- PR Low: 18998.75
- NZ Spread: 81.25
Key scheduled economic event
08:30 | Core PCE Price Index (YoY|MoM)
Holding above 19000 inventory inside prev session range
Evening Stats (As of 1:25 AM 7/26)
- Weekend Gap: +0.25% (filled)
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 337.02
- Volume: 30K
- Open Int: 249K
- Trend Grade: Bull
- From BA ATH: -8.9% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 18675
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
NQ - Not As Clearcut at ES$19,200 is regarded as a discount in this instance and this is where the most pain will lie if NQ was to continuously drop.
I am expecting a relief rally, targeting short term highs at $20,162 for a potential mirror set-up in ES so i can take shorts into a discount aiming for $19,200
Bearish dayGiven the way the market is moving, we are still bearish today. I will keep you updated in case anything changes.
Somethings going to have to give4 HR momentum is still to the down side. But demand is holding for now. If breaks next demand is a little further.
Looking at a 3:1 short from top of globex.
NQ 30m Profile analysiswe either accept value back in and around this 5 day balance range s3.tradingview.com
or we will see shorts start to cover causing a short lived rally before the search of real buyers. overall the weekly trend is intact.
