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smwajeeh
Apr 26, 2024 4:16 PM

Chart Idea - Swing Short on NQ Short

E-mini Nasdaq-100 FuturesCME

Description

NQ should retest 0.382 fib level (16966) in coming days/weeks.

Comment

So far, this trade is still valid as it didn't close the daily candles above 50 or 20 EMAs. 20EMA is still under 50EMA which shows the bearish sign. IMO, market manipulators can still pump the market and shake out all the shorts, but my confirmations are still intact. Until, it breaks above 18500, 20EMA comes back and crosses above 50EMA, OR DXY breaks down 105.49 and closes below, we are bearish and going down.

Comment

Above comment is also valid for SPY as well.
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