The Nasdaq 100 E-Mini Futures Daily time frame is in an up trend. The market hit the up trend line and pushed bullish.
The distance to the top blue level which has history of pushing the market back down is about +2,000 ticks away. The market looks like it may wave forming higher highs and higher lows as it moves bullish.
I am going to look towards the smaller time frames to find down fib extensions to buy towards the daily resistance.
8125.00 is the price point of the top blue level which has acted as the resistance level to push the market down. The price of the symbol when I posted was 7585.00
JoshuaMartinez
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@JoshuaMartinez, Every tick is measured at $0.25. If you take the target of 7585.00 and subtract the current price of 8125. The amount is $540.00 now times that by 4 (Because every tick $0.25, and there are 4 ticks in every dollar) and that will give us 2,160 ticks. Every tick is valued at $5.00 for every E-mini contract. So a total of $10,800.00 of opportunity. Assuming the market hits the target and gives an entry. Hope this helps!
Olu
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@JoshuaMartinez, Thanks I was thinking in terms of points. My 540 x 20 is the same as your 2160 x 5. I get it now. Thanks for explaining. Great idea
transparent-fx
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appreciated that you took the time to share, take a look at my work if you want, i'm sure you would like it
JoshuaMartinez
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@transparent-fx, Thank you for the comment! Ill take a look at your analysis!