NQ Uptrend Still BullishWhen evaluating whether to take a short or long position, it's crucial to observe current trends. For example, the NQ 4-hour chart maintains its uptrend as it hasn't broken any higher lows. This was evident during a live chat I observed today, where some traders were initiating short positions anticipating a "flush." However, their rationale wasn't clear. Understanding the shift in trends, characterized by breaking higher lows followed by forming lower highs and lower lows, is a key aspect in determining your trading bias across all time frames. Although the 4-hour trend is still strongly bullish, the 1 to 5-minute timeframe may exhibit a "pullback," offering short-term intraday shorting opportunities. However, it's important to be aware that this strategy goes against the dominant bullish trend in a higher time frame and is very high risk.
