Nasdaq Futures - Renko Chart Long Term Trend
There is a long term trend going back to April - this has been tested multiple times.
As we continue to make highs on divergences we can have an expectation of where we might fall back to. The maximum percentage over the trend line was 11% - we are currently at 5%.
Perhaps we'll get to that 8% this upcoming week - this could be good spot to short back to trend, tough to short the /NQ /MNQ, you may want to wait till we get back to 10950 range to take a long - if that fails then we have entered a whole new dynamic.
Mnq
NQ pullback to broken rising wedge
So big earnings beat, price is going to be complete the pullback and then major profit taking will ensue.
That big pink line is the former resistance turned support of the multiyear megaphone pattern.
Here is a zoom in of the 4 hr
Here is a zoom in of the 12 hr (for clarity)
Here is the weekly NQ megaphone.
Here is the monthly NQ megaphone - note the bband signal trigger.
RSI and ADX Combination Signals Top in the NQJust your average 500 point daily range in the NQ. Ha! The NQ has been on a tear over the past few weeks, making shorting and identifying meaningful reversals challenging. Today, using a combination of RSI and ADX, our Extreme Turn was able to spot the combination of oversold conditions AND decreasing momentum thus producing the first sell signal on the 60m time frame since July 1.
Our models are short from 11018 with a trail stop just above the visible POC at 10715.
We post all these signals in our free Telegram channel: tradersdevgroup.com
NQ - Nasdaq100 e-mini futures buy zones (MNQ valid)Hello traders,
Description of the analysis:
M30 strong s/r zones. Currently NQ in the all time high area, where the probability of rejection and decline is increased. Sentiment will show. Support zones ideal for timing short-term long positions (gray). Trade what you understand, trade carefully and sparingly according to the business plan. Analysis is also valid for e-micro MNQ futures.
About me:
Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund ($4.000.000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades.
Jacob