Chart link: tradingview.com/chart/vYaceW5a/?symbol=CME_MINI:NQ1!
On the 4HR chart, price is setting up for a head and shoulders pattern, but there has been solid break and retests of past levels to allow price to move up into the Daily supply above. Given the previous news released today from Trump that there is 'talks' to get settled with Canada and China tariff prior to FOMC, I expect a large move to take place between tomorrow and Thursday.
If we have a continued strong bounce off the 30MIN demand and 1/4HR imbalance zones and break over 20273, then I will consider a long into the 20390 4HR imbalance above (50%) and the daily supply above of 20440 (50%).
If we have bearish order flow where we break through the demand zone (break and retest) to go lower, then I will consider shorts towards 19600/19100/18700 demand and previous breakout levels.
On the 4HR chart, price is setting up for a head and shoulders pattern, but there has been solid break and retests of past levels to allow price to move up into the Daily supply above. Given the previous news released today from Trump that there is 'talks' to get settled with Canada and China tariff prior to FOMC, I expect a large move to take place between tomorrow and Thursday.
If we have a continued strong bounce off the 30MIN demand and 1/4HR imbalance zones and break over 20273, then I will consider a long into the 20390 4HR imbalance above (50%) and the daily supply above of 20440 (50%).
If we have bearish order flow where we break through the demand zone (break and retest) to go lower, then I will consider shorts towards 19600/19100/18700 demand and previous breakout 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.
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.