Friday's speech from Powell was a huge help for the market to look for/reach new highs. I still think that NQ is too high at the moment, but I will side with the market if it wants to go higher. HOWEVER, after such a session, we usually don't reach new highs on the next following session. I'm optimistic for next week, but I keep an eye on GP (yellow support), I...
The hourly trendline hasn't been broken. For today (8/27/21), I'm leaning short as pre-market sits at the support that's been tested multiple times. It's just a matter of time before this current support breaks. I would short at the trendline with a stop-loss at the previous lower-high. Be careful with sudden and fake pumps, I wouldn't be surprised if open shows...
I'm expecting NQ to go lower in the next few days, there is unfinished business around 15,100 and even lower. I'm positive to stay above 15k for now, if not, then I would just sit there and wait for more consolidation at previous support. For today (8/26/2021) my plan is simple, I have a trendline on the hourly timeframe, I would like to watch it and see how we...
Fib retracement shows some clear support areas, to bounce from. I think we pump up to the resistance.