This simple Renko chart on NQ100 is used to gauge next day sentiment prior to major announcements. I view it around 11 p.m., and if the Renko Bar changes color, that's a pretty good indication on how the market will open. Of course, this chart should be used in connection with other bias indicators to confirm direction. Simple is sometimes best!
For those of you who might trade the Nasdaq 100 Futures
Basis June 2020 ( NQM20),
I am incredulously looking at a serious,and potentially
significant KST Accumulation Divergence,
As price in the contract has continued to rally and scale
back towards all time Contract Highs of February
it continues to weaken in "Accumulation Buying"
as you can clearly see in...
Nasdaq is extremely close to making a new all time high. This is a great area in terms of risk and reward for the bears, and possibly for the bulls as well.
As mentioned in my previous ideas, exchanges sell their order flow of their users to high frequency trading firms and institutions. This means market makers with billions of dollars know where everyone's stop...
#NASDAQ #NQM2020 #1hr
- Here is NASDAQ 1hr chart. It recently broke the blue uptrend line below and dropped down making a low around 9505. After that it bounced right back up.
- This V shaped kind of patterns appear a lot these days where a lot of retail traders get mashed.
- Within 7 hours, if we see more bullish momentum, based on the top of the many channels,...
- Here is NASDAQ 1hr. It broke above the ascending triangle and is showing bull run.
- We highly need to pay attention to green, blue and red upward trendline.
- The green trendline has already been broken above and thus if it goes through some correction, we can expect some retest support where green and blue trendline overlap. (right now it’s...
I've been trading for 20+ years and I believe I have almost seen it all. I've had big winning trades, and huge losses. Some of my biggest wins came when I was a beginner aka fomo trader, and my biggest losses came when I become more knowledgeable of the market. My most consistent trading came in my latter years when I gained experience and felt real pain, and I...
Most of the Tech stocks are over bought right now and based on the chart Nasdaq has bounced from the top of the channel and possible to go down.
There is also a chance that after 'US Continuing/Initial Jobless Claims' today we may see a bullish sign (due to total unemployment decline as many countries go to work) it will break the channel and go higher.
First, I wanted to say that anyone who is using the QQQ chart to trade NASDAQ is at a huge disadvantage.
The futures chart NQM2020 has much cleaner price action and the trend lines are much better respected.
As I am sure many have heard, there is all of this talk about the market ready for a C wave down after this B wave rally. While this may be true, the chart...
Online/tech businesses have fared better than brick/mortar but the spread between the Nasdaq and SP500 indices has overextended and rejected off a long term trend line. Recommend short NQ futures and long ES futures contracts in equal number.
Within overall, medium term bullish trend, NQ will retest clear support levels around 8,450 (see volume accumulation on Feb 28 and Apr 21) and bounce back thereafter. Proposed strategy is to go short around 9,100 and close the position at 8,450/8,500.