Thankful for this Bearish 5-0 Forming on NQ
I'm also thankful for the futures market staying open and allowing for the first bearish continuation to occur on the weekly timeframe in about 20 months.
This could get really interesting if this happens on Thanksgiving (when nobody suspects it).
Might want to keep an eye on this regardless of which way you lean.
-Thankspigging
NQ1!
NDX
IXIC
CURRENCYCOM:US100
ARKK
This could get really interesting if this happens on Thanksgiving (when nobody suspects it).
Might want to keep an eye on this regardless of which way you lean.
-Thankspigging
NQ1!NDXIXICCURRENCYCOM:US100
ARKKTrade active
If the 5-0 structure fractals on a larger degree, then we might see price action that follows the path below:Ultimately, if the bounce comes in the vicinity of the 1.618 extension down at a similar angle shown above, then it becomes a near-certainty that the bounce stops at that 0.5 level.
And if this comes to pass, then you've got yourself a very lucrative, high probability short setup that comes once every never.
Good luck.
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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.