NQ Futures could be trying to setup an ascending triangle to catch bears short at the bottom with major upside potential with a breakout and confirm.
Will almost certainly coincide with data/news that will either play out a bear trap or a bull trap on the same timeframe for the next let the market takes.
Often these patterns forming at the bottom of a range end...
Classic trend reversal retracement
-Bear flag directly into one of the last imbalances (on 30m timeframe)
- Breakdown to 393 area very possible in the next month or two
- ~10% drop from current levels, would put QQQ squarely in correction territory
- Upside is that 393 area looks to be a very strong (and fresh) support
Just as in 2002-2003 when America invaded Iraq looking for WMDs (emphasis on the W). George W Bush (again, W) went to eliminate WMDs in Iraq. When said WMDs were not found, it was time to short the Iraq war. However there is a long and profitable path before us until our lies are exposed and we would be fools to not take advantage of this opportunity.
We have the...
