The only NQ trade setups you need from now until September
We're at a decision point for the market. We're either coming up to the value area high, and then dumping to the depths of the lows.... or we're closing above the value area high, and pumping so hard we fly up nearly another 1000 points.
Marked on the chart are a couple of areas some friends and I have discussed and I'm posting them on tradingview so can I refer to them and to see how they play out in posterity. The viewpoints are this:
1) We correct to the -831 of a pull which I've marked as the lowest possible retrace before pumping up to the golden pocket around 14663.
2) We don't pullback and correct this most recent move, but we just head up, break over the Value Area High for two NY sessions, confirming the break out and pump to the golden pocket
3) This was the high, we pump a little bit up to the Value Area High of around 13982 currently, then we just nuke off to 12k 10k or lower
4) We nuke from the golden pocket to 12k, 10k or lower
We're in a dangerous zone we think, as it's the last area you can possibly be bearish and get a huge, HUGE short... or we're not done yet for nearly a thousand handles and it's pump time, with a life changing short opportunity after that to take down. Taking a position right now can make you very wrong in either direction.
So what to do? I think given the parabolic nature of the current market the bias has to be up. So I am prepared to long here at vah with my trading buddies for that weekly golden pocket above, and at the pullback, and to cut aggressively if we're wrong. I'm also planning to trade options short at that high, and also potentially to short the VAH if we can't break above, because catching a top or bottom is exceedingly hard, and certainly beyond my skill level. The amazing chap that came up with that high is significantly more experienced and a better trader than I am, so it is with his confluence that I'm giving it the consideration that I am.
I'm also considering options at these areas so as not to miss any of the 4 moves