NASDAQ: Golden Cross and a Channel Up combined.Nasdaq formed a Golden Cross on the 4H timeframe today while turning bearish on the technical outlook (RSI = 40.347, MACD = 7.500, ADX = 49.160). This means that as it approaches the bottom of the Channel Up, it becomes an oversold buy opportunity. The former bullish wave targeted almost as high as the 2.0 Fibonacci extension. Our target this time is also a little lower (TP = 15,700).
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NQ1
NASDAQ Best action plan for the short-term.Nasdaq (NDX) is trading on the 4H MA50 (blue trend-line), pulling back after a Lower High at the top of the Falling Wedge pattern. The formation that took it that high is a Channel Up which hasn't yet been invalidated. As a result we currently sit on a bullish short-term signal until broken, with a 15270 target (Lower Highs trend-line). If the price closes below the 0.5 Fibonacci retracement level, which would also be below the 4H MA100 (green trend-line), it will be a sell confirmation like that of September 19, and we will sell, targeting 14530.
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Monday BaselineMonday is what I use as a baseline for the week. I don't trade Mondays.
Here are the important levels I am watching for the week.
We are at a critical point and could see many surprises.
However I would like to see price not go higher than the two dashed red lines near the center, for some further retracement. there is a Daily FVG just above the first one.
Any time we get a pullback it makes a run higher stronger.
I prefer to trade with strength, not in choppy iffy conditions.
There is a possibility, as I discussed last week that we may see new lows.
But price has to go up before it can go down, and vice versa. premium and discount of a range, et.
There's a lot of world events right now that could impact market behavior as well as red folder news on the economic calendar.
Keep an eye on oil, gold and the DXY.
Have a great week everyone!
Nasdaq Cucle
Next probable movmement for NQ1 will be Short from 15414.75 direction 14819.75
Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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New week Nasdaq is still highHello everyone, Although the index price lacked positive momentum in recent trading, its general stability within the axes of the ascending channel, based on holding above the main support extending towards 14800.00, in addition to the formation of the 55 moving average for additional support with its position at 14945.00. This contributes to confirming the positive continuity for the upcoming trading.
The above invites us to wait for the price to accumulate positive momentum to enable it to form new ascending waves, thus reiterating the pressure on the obstacle extending towards 15530.00, and by surpassing it, it will succeed in reaching the additional stations, which may start from 15670.00 and 15870.00, respectively.
The general trend expected for today: bullish
NQ Daily Analysis NQ Daily Analysis - Break and Retest of the 15050-14680 10-Day Range
I usually don't look at NQ as my primary focus is ES, but scrolling through my watchlist I stumbled across the old depiction I made of NQ trading in a range, and now we are here backtesting it. Could we be setting up for a break and retest or will this be a failed breakout and we start trading back inside the range? We are also building a bull flag shown by the purple trend lines so it wouldn't be surprising to see NQ continuing to fill out the flag.
With ES ~4350/SPY ~430 at a core level (imo) that'll need to hold to see more upside, coupled with NQ at a significant break and retest level, this puts more upside in play. Don't be stuck on one direction though. We have to be situationaly aware of world news and the econmic calendar this week as it will continue to bring volatility into play. I always focus on levels and technical analysis, while being mindful of contributing factors.
As always, manage your risk to reward ratios while we trade this upcoming week. Taking a short into NQ being at a break and retest daily level, on a higher time frame aspect, isn't the greatest risk to reward.
NASDAQ Hit the MA50 (4h). Will it hold?Nasdaq is on a correction leg after being rejected on the Falling Resistance of the Falling Wedge pattern, a little under the 0.786 Fibonacci level as the September 1st Lower High did.
It hit today the MA50 (4h) and that can generate a short term rebound.
Below that, the correction of the Wedge will be extended lower.
Trading Plan:
1. Buy on the current market price.
2. Sell if the price closes a (1d) candle under the 0.382 Fibonacci level (as September 19th).
Targets:
1. 15200 (little over Fibonacci 0.618).
2. 14600 (over Support).
Tips:
1. The Falling Wedge keeps the medium term bearish. We need a crossing over Resistance (1) to restore the long term bullish trend of 2023.
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Notes:
Past trading plan:
QQQ: 3 Falling Peaks at Bearish Shark PCZThe QQQ has been trading at the PCZ of this Bearish Shark for quite a while now and it has recently come back to make a 3rd Consecutive Lower High with Hidden Bearish Divergence on the RSI and looks to be ready to confirm it as a 3 Falling Peaks Pattern that I think would result in a major move down towards the 800 EMA or even lower down to the pre-2022 levels.
Key points for seasonality tracking Is the low in or notWe definitely saw a reaction after tapping into that daily FVG above.
I expected a retrace after that.
now we have to see if it finishes this as a small retracement or puts in a surprise new low for seasonality.
Price could retrace to and bounce off those FVG's or go past the last two lowest lows for a surprise.
We will know more after today and Monday.
these are the key points of interest I am watching.
Have a great weekend!
13 Oct Levels with POILevels I am watching for Friday- shown with daily FVG to be more clear about points of interest.
Dashed Black line is the 50% line of yesterdays move, denoting premium and discount.
Black heavy lines are yesterday's H/L
It is yet to be seen if the final October low is in.
It is possible to have slightly more expansion, with a deeper retracement beginning next week
or we could retrace tomorrow for a new lower low.
For intraday trading this does not matter as much. keep your eyes on strong points of interest such as weekly and daily FVG's, previous Days H/L
As always, we trade during specific times only.
happy trading!
have a great weekend!
𝗡𝗮𝘀𝗱𝗮𝗾 𝗨𝗽𝗱𝗮𝘁𝗲: $QQQ Daily. Keep it simple𝗡𝗮𝘀𝗱𝗮𝗾 𝗨𝗽𝗱𝗮𝘁𝗲: NASDAQ:QQQ Daily. Keep it simple. Above line-in-sand ("LIS") of 373 a bull flag 🐂 breakout. Below risk lower to consolidate 🐻
$NQ_F TVC:NDQ NASDAQ:AAPL NASDAQ:MSFT NASDAQ:AMZN NASDAQ:META NASDAQ:GOOG NASDAQ:TSLA NASDAQ:NVDA NASDAQ:SOX $ES_F AMEX:SPY SP:SPX TVC:DXY NASDAQ:TLT TVC:TNX CBOE:VIX #Stocks
Nasdaq: Taken off 🚀The Nasdaq has now rallied strongly and has left its green target zone between 15 292 and 14 431 points. The next target is now the resistance at 16 062 points and a further rise to around 17 500 points, where we expect the high of the orange wave i. It is important to note, however, that it is also possible that the high was already set in July. This alternative scenario, to which we assign a 40% probability, would come into play in the event of a drop below the zone. The low of the orange wave alt.ii would then have to be in the orange target zone between 13 934 and 12 717 points.
NASDAQ Channel Down or Bullish Flag?Nasdaq (NDX) broke above the 1D MA50 (blue trend-line) and has almost reached the top (Lower Highs trend-line) of the Channel Down pattern that started after the July 19 High. The 1D STOCH RSI Bearish Cross suggests that this is a sell opportunity on the short-term at least, towards 14900 (0.5 Fibonacci retracement level).
But what if this is not a Channel Down but a Bullish Flag pattern after a relentless 2023 price growth? In that case we will need to wait for confirmation in the form of a break-out above the last Lower High (and current Resistance level) at 15630. After that, we will buy the first pull-back below it and target the 16780 All Time High of November 2021, which interestingly enough is only a fraction below the 2.0 Fibonacci extension, a standard technical target in case of Bullish Flag break-outs.
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NQ1! Supply and Demand Levels 10/10-10/11Link to chart: www.tradingview.com
Last week, our EOW targets were easily and beautifully hit. Great work team!
Crazy bull run that I was expecting to fill later this week, but it has done just that. We pushed close to our 3HR supply, and with this insane volatile news week, looking for this push into this area for either rejection or continuation.
With war, and more specifically the recent events from Russia v. Ukraine, you can see we had a few days of red before we ripped to the upside. I was looking for the same possible idea to play again for Israel v. Pakistan. I wish and pray for peace amongst us all, and to stop the pain that we share to each other.
For EOW Targets:
BULLS: 15470-15525, this would mean a push to 4HR R2 above and taking those heavy orders that lie within the 45m/1hr/3hr zone.
BEARS: 14953-15010, break of this (blue) trendline and a retracement of this impulsive move.
NASDAQ Short term Resistance sell but buy if 15520 breaks.Nasdaq / US100 is about to hit our second target (chart at the end) as it is approaching the Falling Resistance.
Our strategy was purely based on the identical patterns of July-August and September-October.
The index is close to a 4hour MA50-100 Bullish Cross, signalling the end of this uptrend.
We estimate a peak no more than 15350. If accompanied by a 4hour MACD Bearish Cross, sell and target 15050 on the short term (course of 4hour MA50).
If though the price crosses above Resistance A (15520), wait for a MA50 pull back and buy targeting 15930 (Resistance B).
Previous chart:
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Day Trade Market Condition oct 09, 2023 Happy ThanksgivingDay Trade Market Condition oct 09, 2023
levels for NQ ES CL BTC
watch the table left side for trade, right side for trend
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NASDAQ: Will it reverse to Bull or downtrend will make a new LowNasdaq is on two conflicting patterns on the short and long term. The Bullish Megaphone that drove it out of the Bear Cycle after the late 2022 Triple Bottom is still holding and closed last week with an emphatic rebound but at the same time so is the short term Falling Wedge that started the correction on the July 19th High. This conflict and medium term balance is why the 1D technical outlook is neutral (RSI = 48.115, MACD = -63.170, ADX = 38.959).
The 1D RSI may have held August's Support and we could have a Triple Bottom since June, not much different than the late 2022, but it is the 1D MA100 that will make all the difference. A two 1D candle close over it, will amplify the probabilities for a break of the Falling Wedge and long term bullish reversal, in which case we will target the 1.382 Fibonacci extension (TP = 16,050). If we don't see such 1D MA100 closing pattern, we will stay bearish, gradually aiming for the 1D MA200 (TP = 14,350).
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NQ1! Bearish ForecastAfter the very high non farm payroll data but slowing wage growth as well as the unemployment rate which is still in stable numbers, the increase at the end of last week showed that investors considered good economic conditions.
apart from fundamentals, from the technical perspectives a bullish candle was formed at the weekend, but by looking at these two aspects in addition to geopolitical conditions, oil, gold, Yield, Dxy and also after looking at the volume profile indicator I speculate that there will be a reversal and will break the channel