Been a while but I haven't been posting ideas because I have been scalping and doing smaller time frame trades. I think we have NQ at a nice price level where we might see a bull run soon with the market sentiment slowly "thawing" on the idea of "risk-off" sentiment to "risk-on" sentiment and environment with more uncertainties clearing out of the market scenes.
We have US trying to negotiate deals with many countries including China which is very challenging and we can never know if it will be achieved or not. However, from an economic point of view we can agree that the US economy is in the Neutral-bullish. We have a very bullish price action in the past week or so. We also have healthy economic numbers but it is still unclear until Wednesday.
On Wednesday the FED will speak on this matter and give us some clarity on whether it is a Risk-on or Risk-off environment. Anything will happen but I can see the "Gap" getting filled on FED day due to the SPIKE that will be delivered to us.
Currently Edgefinder tool is giving us 8 for NQ with only the GDP and sPMI scores in the negative. However the net score is bullish and on the positive.
I think 1 of those two ideas will be played out sooner or later anything can happen but from a technical view I would like to see the price reaching the 50% FIB and then take off from there.
It is subjective though and everything in trading is subjective including what I do and say.
We have US trying to negotiate deals with many countries including China which is very challenging and we can never know if it will be achieved or not. However, from an economic point of view we can agree that the US economy is in the Neutral-bullish. We have a very bullish price action in the past week or so. We also have healthy economic numbers but it is still unclear until Wednesday.
On Wednesday the FED will speak on this matter and give us some clarity on whether it is a Risk-on or Risk-off environment. Anything will happen but I can see the "Gap" getting filled on FED day due to the SPIKE that will be delivered to us.
Currently Edgefinder tool is giving us 8 for NQ with only the GDP and sPMI scores in the negative. However the net score is bullish and on the positive.
I think 1 of those two ideas will be played out sooner or later anything can happen but from a technical view I would like to see the price reaching the 50% FIB and then take off from there.
It is subjective though and everything in trading is subjective including what I do and say.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.