NQ 1 hour futures set up for a further decline. Interested to see what the night will bring for momentum. Overall, the EMA and MACD are in tandem with a slight short term downward trend. By the numbers: 1) MACD cross over down several trading bars/candles ago. Notice to the left the MACD has also dipped below the even/zero line indicating negativity brewing in...
The chart is part of our educational article "Trading the Elliott Wave Principle - Part 2."
The NQ weekly chart corresponds to the example of our educational post " Impulsive Waves Construction - Part 4".
Occasionally I will be slapping together a commentary about the days action on my favorite index and making a point to pickout the best entry of the day. This does not mean I take these entries. I simply point them out. These posts will be short simple and insightful. Notice the daily is bearish. We know better than to hold onto long positions. Over the...