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AmpedTrading
Mar 18, 2024 10:26 PM

NQ Bearish Structure | Looking for a possibly 2-legged pullback Short

E-mini Nasdaq-100 FuturesCME

Description

NQ has broken its structure to the downside, disrupting the bullish pattern that had been ongoing for a while.

I am looking for an hourly two-legged pullback to the ~70% retracement zone before making a new low, since the price has broken above a prior lower high. This suggests that buyers want to see higher prices before we possibly make a lower low.

There is an hourly demand zone around 18200-18170, which I suspect buyers will try to use to push prices higher.
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