With Nasdaq Futures seeing high volatility in a bearish trend, there are 2 levels that I like for a trade with the thesis that as long as we are below 7210, we are going to test the 6900 lows.
Trade Setup 1: I think a retest of the lows would be a successful and see at least a 100 point bounce.
Directional Bias: Long
Price Target: 7100
Good Entry:...
Well - volatility has been crazy but the bulls are coming back as strong as the bears were last week.
The 7320 target reached and has even been exceeded.
Here is a price action scenario I can see occuring and would be looking for the following trade setup:
Directional Bias: Long
Price Target: 7420
Good Entry: 7200-7220
Risk/Reward: 30 points max risk (below...
2The trade idea I posted last week, we never got the price target to set up a nice short. However, the trend was clearly down and there was no signal to long until the look below and fail on Thursday down in the 6900-6930 area.
Give the close we had Thursday/Friday, it looks like some buying algos showed up.
Weekends can change the complexion given our heightened...
The journey up over the last 3 months since early July was just erased over the course of the last week or so, with much of coming just in one day. Right at the 200 EMA for the close, but at the moment NQ futures further down below 7000. One scenario is a bounce from this level where past congestion lines up as potential support just below the 200EMA, and if it...
Trade setup for Monday: Open within Friday low
and gains strength, can get up to 7530- 7560 area.
this area can be a great short opportunity if price
cannot get accepted back into that range.
Failing there can target 7220-7260.
On Monday S&P broke the history high once again and today's candle stick broke the previous trendline with a more aggressive hike.
RSI is in uptrend, but its already in the overbrought zone.
MACD is bullish.
I don't want to buy this market, because i think everything are too expensive to buy right now.
I am waiting for a clear signal to short this market.
We are planning to take a short position in Nasdaq Futures as it is close to the fresh supply zone. Risk to reward ratio is awesome in this trade.
Cheers :)
This is the sort of setup that will make your week, month, or even your year.
You know when you just "know" a setup is going to work?
Well, I'd like to stop "just knowing" and actually define this. Because this is the sort of thing, if you traded exclusively, you'd have ridiculous W% and R stats, and crazy growth.
Here's why this setup is GRADE A+:
...
TP = 7,640 hit as the 1D Channel Up (RSI = 50.527, MACD = 11.240) advanced towards a new High at 7,700. It has since pulled back to make a Higher Low and we think that this has been priced at 7,400. We are going long again aiming at the next potential Higher High. TP = 7,828.50. When 7,640 is crossed again, we will place the SL there to ensure the safety of a big...
See chart for summary.
I don't think the market has topped here, but I do think there's an opportunity for short term shorts to nail a momentum move down AFTER a fail at the zone. I included the EMA's here because they provide a good visual tool...a pullback to the 25 EMA + zone + price action fail....that's essentially what I'm looking for. Ideally I'd like to...
New market, old levels. I am finally dipping my toes in the traditional markets after I got a future account setup with AMP Futures .
Very Curious to see how the trusted TA from crypto will perform here.
The big distribution wedge I am talking about:
Big Trend obviously extremly bullish , would like to get a long entry at my yellow levels below....
Not a whole lot to say that's not obvious on this chart. I just want to point out that getting in on a level like this, we expect a CHANGE IN STATE, from coiling range to explosion (up OR down). Part of the issue is to identify the right times to get in, when explosive moves are going to happen and THEN get in on the right entries. Two separate skills.
Hello Traders,
Today we will have a look at NASDAQ.
Short-term Elliott wave analysis suggests that the rally from 7/30 low ($7167.75) to $7505.25 high ended blue wave (1). The internals of lesser degree cycles within blue wave (1) unfolded as 5 waves impulse structure. Down from there, the correction against that cycle in blue wave (2) pullback is proposed...
The NQ is one of the trappiest contracts out there, so watch what happens at this level. It's worth zooming in to the 15m just to study the aftereffects in a few days.
The longer it builds up near the High WITHOUT breaking it, the more I'll be biased long. If we probe it overnight, I'll be back to cautiously looking.
Ideally I either want a naked attack in the...
This is posted for historic reference in case the market cracks here and goes down as expected.
All three major indices look bearish to me.
S&P500
Double top
Daily price (Aug 21st, 2018) upside wick is outside upper bollinger band.
Nasdaq
NQ has been hugging channel support line hard and is about ready to slide out from exhaustion (see first...
I am still bearish for the NQ. Even though it had bit of recovery in the last hour on Friday, the future didn't achieved to go above the 7450 again. The underlying index looks even worse. RSI on the daily in downtrend. As well the other leading US index futures on YM and ES in the direction downwards (for YM I even think it can lose some 1000 points over the...
