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NQ futures: Swing supports
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Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options....
4H Chart Explanation:
- Price is on an Ascending Channel .
- Price broke the Micro Ascending Trendline .
- Price is developing a Bearish Corrective Structure now.
- If it breaks it, it has potential to move down towards the Bottom of the Ascending Channel .
Retest of the resistance and failure led to a liquidation move. Breaking the recent wedge added to the downside momentum. Since the move happened off the top of the balance it got exhausted half way to the stronger support. The buyers took advantage of that and pushed back. The market closed at the inflection point. Ideally, we should see a reaction and...
Daily Chart Explanation:
- Price is on an Ascending Trendline.
- Price is, one more time, facing the ATH Zone.
- Bearish Divergence on MACD on each New High.
- If price starts its down move from here, it should retest the Ascending Trendline and, in case it breaks it, there is potential to move down towards the Support Zone.
All pumps are short opportunities. NQ has been nuts lately, both sides should be very profitable. Just play the swings. I see dont NQ making a new local high today. Expect movement on impulses and corrections. WEEEEEEEEEEEEEEEE
*same chart as the one posted earlier this week.
Tagged a decent spot for a small trend shift. I was expecting a tiny bit higher but oh well. Still looking for shorts just above this range. Ill be looking for longs as well at my spots I marked. Very wide range on this one guys and gals. Be careful.
Very similar range as yesterday. Hit 1st PT on the 7455 long. Looking for it to come down and test before continuation up. I will most likely try an add on to my long somewhere in the yellow box below. Have fun and be safe, job reports.