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DaddySawbucks
May 20, 2021 5:35 PM

NQ Broken Up from DownTrend; Higher Soon?! Long

CME_MINI:NQ1!60
E-mini Nasdaq-100 FuturesCME

Description

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Chart says it. Breaking out to upside, correction with double bottom in: Small pullback to test upper channel TL; then higher IMO.

Just an idea, not advice; GLTA!

Comment

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Probly get the last pop EOD on short covering Friday; looks like a 4th wave creeping along

Comment

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Don't short it yet IMO it's touching the TL, expect higher EOD

Trade closed: stop reached

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Not behaving like it should on FRI PM....!

Comment

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LOL THEN it goes fgs... another fakeout and whipsaw. We got the 5th wave up here IMO; lower again soon...
GLTA
Chart PatternsTechnical IndicatorsWave Analysisbreakout
Comments
UnknownUnicorn11430563
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It was a tricky week for trading. Have a good weekend!
DaddySawbucks
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@PuckBunny, Looks just like the failed retrace before double bottom in June 2020; it's very Beary
UnknownUnicorn11430563
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I agree. I think now that Nasdaq go down to 12900 it picked up more energy for ride going to new high. We will see. I like your idea! :)
DaddySawbucks
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@PuckBunny, I wonder... whipsaw smells like a bear rally...
UnknownUnicorn11430563
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@DaddySawbucks, you seem to call the right directions most of time. I trust your thinking.
DaddySawbucks
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@DaddySawbucks, Yep, agree, its a fakeout. Shorting on my latest alternate path idea, measured move down
MightAssTouch
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Ideal scenario is a sell off tomorrow followed by a more tapered rise. This elevator down, elevator up nonsense is unsustainable. Bull run very close imo, but I am hedged into tomorrow. Cheers
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