NQ has 2 possible pathways going into end of the month/early Feb
Hi everyone,
Want to mention this again:
I was suspended from posting on this site 4 or 5 times just for mentioning our new trader's community website in the updates. It is under my profile on this site, so for me, it doesn't make sense why I can't mention it.
I do pay for this service and have done my updates for free for others to use for about a year now! Which means more customers for them.
What did I get in return? Well, the last suspension was a week long.
So, I won't be posting many updates here any longer, but I will still do some of those from time to time here.
It's very time-consuming, and I have other commitments now that conflict with the subscribers.
Sorry to those who have been following me here for many months. I will still post some updates just for you guys!
Going back to the NQ chart:
Two pathways I'm watching:
1- a fake breakout and 11265-75 act as the main resistance next week going into CPI numbers on Thursday
2 - the price gets above the 11265-75 level and stays there. That price action will invert cycles and squeeze the price into those three extension boxes.
I'm planning on shorting the 11265 level with a stop.
Also, I think the price will not pick the next trend till after the CPI opens.
So far, the price action is bullish to me, and as long as the last two bottoms hold, this will push up. But if/when (in case of a pathway 1 of a fakeout) that double bottom low gets tested, it will slice it through and will produce a move down to at least $9.6k and possibly much lower.
P.S. I will do one SPX update in the next 2 days or so; stay tuned.
Want to mention this again:
I was suspended from posting on this site 4 or 5 times just for mentioning our new trader's community website in the updates. It is under my profile on this site, so for me, it doesn't make sense why I can't mention it.
I do pay for this service and have done my updates for free for others to use for about a year now! Which means more customers for them.
What did I get in return? Well, the last suspension was a week long.
So, I won't be posting many updates here any longer, but I will still do some of those from time to time here.
It's very time-consuming, and I have other commitments now that conflict with the subscribers.
Sorry to those who have been following me here for many months. I will still post some updates just for you guys!
Going back to the NQ chart:
Two pathways I'm watching:
1- a fake breakout and 11265-75 act as the main resistance next week going into CPI numbers on Thursday
2 - the price gets above the 11265-75 level and stays there. That price action will invert cycles and squeeze the price into those three extension boxes.
I'm planning on shorting the 11265 level with a stop.
Also, I think the price will not pick the next trend till after the CPI opens.
So far, the price action is bullish to me, and as long as the last two bottoms hold, this will push up. But if/when (in case of a pathway 1 of a fakeout) that double bottom low gets tested, it will slice it through and will produce a move down to at least $9.6k and possibly much lower.
P.S. I will do one SPX update in the next 2 days or so; stay tuned.