I think most of us will be surprised by this huge bounce up this morning. However, I am still confident that the bear trend has been initiated and you could short more if you want. I think a good level to short at is 7651.5, a high from a previous day. More downside incoming. Take a breath and move on.
The NQ one hour time frame is in an up channel.
The market is on support. As long as the market
does not close in the sell zone. I am expecting
the market to u-turn bullish and push towards
the top of the channel price point 8090.00 about
+1,950 ticks away. I am going to turn to the
five minute time frame and will look for counter
trend line breaks bullish,...
Nasdaq Index (NQ_F) ended the cycle from February 20, 2020 high at 6628.75 as wave (a). Internal of wave (a) unfolded as a 5 waves impulse Elliott Wave structure. Down from February 20 high, wave I ended at 8126.25 and bounce in wave II ended at 9002.50. Index then resumed lower in wave III towards 6810 and wave IV bounce ended at 7629. The last leg wave V of (a)...
As I mentioned yesterday about opening new shorts, I hope you have listened to my advice and shorted on 7629.75. You can do scalping, quickly looting $1000 and all that. Although I don’t do scalping, I really do think it’s a good strategy you can practice during this volatile moment. Alright, so back to the price. I think this is going to retest the...
Summary : Go Short @7960 area
Target Profit 1 @7310 area
Target Profit 2 @6930 area
Stop Loss @8312 area
AS WE CAN SEE Nasdaq Mini Futures is running in a trading range right now, and the dominant trend is still bearish. There's some indication that the price will continue pushed down as there's a small Rising Wedge inside the...
I am amazed by this pullback, and I gotta say this is such as opportunity to load more shorts. I corrected my corrective waves, and just realized the ABC waves were way bigger than I thought. However, the trend remains bearish after the correction. Looking to short at the red horizontal lines, and take this chance bears!
I had really good entries back in my previous ideas at the recent bottom (linked in post). Sold them off pretty quickly due to the large uncertainty in world conditions in this time. I'm still expecting a good amount of volatile sideways action and promptly uptrend when COVID-19 nears calming. I have good belief that the markets are somewhat efficient and...
So excited for Monday!
Alright, so as I mentioned last Friday about the possible pullback, we saw that when Trump signed the $2 trillion bill. And as predicted, the price fell. Currently, wave 3 has the same length as wave 1, but I am really excited by the strong rebound from NQ. NQ is now at the territory, meaning a high possibility of wave 3 extension,...
Yesterday I was expecting a pullback since the bill was about to be passed. And it did. It was an easy .618 retracement that didn't hold for long. Since that failed, I am projecting that a new downtrend will form since next week, possibly triggered by the rising number of infections. Potus' plan to work on Eastern is probably gonna fail as well. So, because...