NQ Update
Updated
MFI went oversold so it'll probably bounce up over the weekend. Looks pretty weak right now obviously, so if you're bullish, just wait until EOD.
In case you're wondering why I keep drawing these channels.... the bottom line represents oversold, top line overbought. Notice how it hit my bottom trendline at the same time it went oversold...
Took the week off, I did not make a single trade this week, so no point in trading today. Staying cash over the weekend. Good luck.
In case you're wondering why I keep drawing these channels.... the bottom line represents oversold, top line overbought. Notice how it hit my bottom trendline at the same time it went oversold...
Took the week off, I did not make a single trade this week, so no point in trading today. Staying cash over the weekend. Good luck.
Note
Of course we get an afternoon rally, lol.I think RSI goes overbought again, sets up divergence on MFI and drops as the red arrow shows.
Indicators are in the middle and we've got a long weekend so anything can happen. Will regroup next week and probably look for stuff to short, if it gets overbought.
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.