NQ - Where Will The Short-Term Retracement Stop?
Similar to ES, NQ has been relatively choppy throughout the last trading week with liquidity voids popping up in the daily timeframe from Tuesday going into Wednesday, Wednesday going into Thursday and Thursday going into Friday with even a bit of a void in Mondays opening compared to Fridays Close.
In relation to running buystops, NQ has not dealt that much damage if we was to compare with ES as the major sellside pool located @ $17,988 is still yet to reprice up into whilst with ES, price action is currently trading within a SIBI, above prior weeks buyside imbalance.
Due to the implied volatility high impact news will create, especially on the busy days like Tuesday, Wednesday & Friday, I can expect a form of manipulation, in form of a retracement back down to the bullish $17,700 daily order block, possibly even lower to $17,450 for a continuation to the upside, targeting $18,100 lower displacement daily order block.
First price point of interest is $17,988
In relation to running buystops, NQ has not dealt that much damage if we was to compare with ES as the major sellside pool located @ $17,988 is still yet to reprice up into whilst with ES, price action is currently trading within a SIBI, above prior weeks buyside imbalance.
Due to the implied volatility high impact news will create, especially on the busy days like Tuesday, Wednesday & Friday, I can expect a form of manipulation, in form of a retracement back down to the bullish $17,700 daily order block, possibly even lower to $17,450 for a continuation to the upside, targeting $18,100 lower displacement daily order block.
First price point of interest is $17,988
Trade closed: target reached:
First price of interest @ $17,988 has been met alongside the stretch target of $18,100
