Next probable movmement for NQ1 will be Short from 15414.75 direction 14819.75
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We definitely saw a reaction after tapping into that daily FVG above.
I expected a retrace after that.
now we have to see if it finishes this as a small retracement or puts in a surprise new low for seasonality.
Price could retrace to and bounce off those FVG's or go past the last two lowest lows for a surprise.
We will know more after today and Monday.
these are...
NQ1! NAS100USD NASDAQ 2023 Oct 02
Analysis from 02 Sep 2023 short scenario worked out well for the month.
- market broke down the upward channel (black dash)
- Supply is present on Friday's bar
- Wait for reaction to demand line of upward channel (blue highlight, set alarm)
Possible scenarios:
1) Market returns into upward channel and is supported = Long on...
The Nasdaq Index (NDX) has been basically trading sideways and around the 1D MA50 (blue trend-line) since September 07. This led the price to the bottom (Higher Lows trend-line) of the long-term Channel Up pattern that has been in effect since the December 29 2022 market bottom. The key Support trend-line has been the 1D MA100 (green trend-line) which has been...
Am I bullish or bearish while looking at this daily chart? The answer is neither. A lot had happened this past week: contract rollover, CPI, PPI, quadruple witching. It seems like trading was a mess and chaotic. Many gurus preached on FinTwit to stay away from the market and preserve the capital. I do see a value in those warnings. Especially, for those who are...
To start off - no changes since the last post. A short week did not do much. However, this week is a start of the rollover to December contract. The adjustment is big and that put the price above the critical level 400. It feels like cheating to fool the machines to push higher. Let's see if the bluff is called :) The levels to watch remain the same - I'm...
In the most recent action the price has managed to get back into the upside channel. Whether there is a real demand or just lack of supply remains to be seen. As of now the price has retested the 61.8% retracement of the bearish swing and failed to accept that level on first test. My focus is on the next level below the 50%: if it holds we may see the upside...
A volatile week but no structural changes, or changes in the directionality. It seems the path to downside has been painted. But when it comes to the market nothing is guaranteed. One needs to think from the change or no change of current context. As of now, the H&S remain broken, the upside channel is broken. Nevertheless, my scenario 1 is
a horizontal...
Backtest of the broken balance, a confirmed Head and off to the Neckline - is the current theme for the market action. The Right shoulder of the projected H&S is being formed. Market is searching for the shoulder bottom. It may reach the lower edge of the channel, confluence with a yearly inflection level. I don't expect a breach of the Neckline soon. My...
Context:
Monthly, weekly - Uptrend (UT)
Daily - downtrend (DT)
Micro-structure:
Poor low from yesterday, excess high from Wednesday
Last Day:
Bearish break out from the range w/o much follow through (b-shape profile implies liquidation of longs, w/o new business). Price returned to the previous range.
Conclusion:
Healthy weekly consolidation. Daily DT...
The week has started from a bullish retracement. From a technical perspective we see a back test of the channel mid and eventually a back test of the broken multi-day balance. The sentiment remains bearish. A retest of the previous session high would be a warning sign for the shorts. My expectation is to see a holding pattern ahead of the inflation data. Being...
this is the result of my analysis about the 55 min chart possible price action develepement. Just an idea, nothing seriouse worth to monitor ;) Pls leave a like when it worked out
this is das Ergbenis meiner Analyse über den 55 Min Chart mögliche Preisentwicklung. Nur eine idee, nichts gravierendes, Wert, im Auge zu behalten ;)
Bitte liken wenn es richtig war
Hello everyone! Huge news week ahead!
Trying out a new theme style for my charts and candles. Going to trial this for a few days-week to see if it is more appealing and easier to read as I trade.
Going into NY session, I am keeping open to this break above the trend line for a possible descending triangle. I would like to use the bottom demand zones as a pop up...
Problem with monetary fiscal policy and debasement? your markets start to hyperinflation especially when you try to patch previous bubbles *cough* QT *cough* BTFP *cough*
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The average net yearly income of Americans during 1930 was...
Last session has retested monthly R1 confluence with the upper edge of the channel. Initial reaction, profit taking. This is all normal and supported by technical analysis. In my view, this is an objective way to look at the market action and remain on the right side of the chart. As the title suggests, the market needs a reason to sell which is a reverse of the...
