Nasdaq Futures - Renko Chart Long Term Trend
There is a long term trend going back to April - this has been tested multiple times.
As we continue to make highs on divergences we can have an expectation of where we might fall back to. The maximum percentage over the trend line was 11% - we are currently at 5%.
Perhaps we'll get to that 8% this upcoming week - this could be good spot to short back to trend, tough to short the /NQ /MNQ, you may want to wait till we get back to 10950 range to take a long - if that fails then we have entered a whole new dynamic.