NQ Framing: anticipating seasonal Low
Updated
Hello everyone,
We have had a bearish weekly bias and have continued downward today crossing an important level.
As shared previously, I have been watching these levels in case we get a new low for October, surpassing the earlier one, signaling the seasonal low for Q4.
We are very close to breaking that level. Rarely do you come this close to an important level without reaching it.
I would like to see 14586 broken, for a new low.
There ARE levels below that, and of course anything is possible.
However, I will consider the break of 14586 the seasonal low for this quarter, unless
convincing signs of further downside occur.
Important to note we are framed by a weekly gap above and below- there is a lot of room between this range.
I will be looking for daily moves between those for now.
Have a great weekend!
We have had a bearish weekly bias and have continued downward today crossing an important level.
As shared previously, I have been watching these levels in case we get a new low for October, surpassing the earlier one, signaling the seasonal low for Q4.
We are very close to breaking that level. Rarely do you come this close to an important level without reaching it.
I would like to see 14586 broken, for a new low.
There ARE levels below that, and of course anything is possible.
However, I will consider the break of 14586 the seasonal low for this quarter, unless
convincing signs of further downside occur.
Important to note we are framed by a weekly gap above and below- there is a lot of room between this range.
I will be looking for daily moves between those for now.
Have a great weekend!
Note
The grey area in the center is a weekly volume imbalance (gap) Most likely price will want to fill this in both directions before any further large moves.I am neutral here except at the edges or other important levels.
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.