NQ Bearish Structure | Looking for a possibly 2-legged pullback
NQ has broken its structure to the downside, disrupting the bullish pattern that had been ongoing for a while.
I am looking for an hourly two-legged pullback to the ~70% retracement zone before making a new low, since the price has broken above a prior lower high. This suggests that buyers want to see higher prices before we possibly make a lower low.
There is an hourly demand zone around 18200-18170, which I suspect buyers will try to use to push prices higher.
I am looking for an hourly two-legged pullback to the ~70% retracement zone before making a new low, since the price has broken above a prior lower high. This suggests that buyers want to see higher prices before we possibly make a lower low.
There is an hourly demand zone around 18200-18170, which I suspect buyers will try to use to push prices higher.
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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.