NQ1
Support at 15300 and then retest 15900?We rejected 15900 level and had a massive sell off yesterday! We have a strong Buy zone around 15300 and I am expecting a bounce of that level and then retest 15900 level. Overall we have a strong bullish trend on daily timeframe and this looks like a healthy pull back. I would still like to see price in the green buy zone.
Entry : 15300-15350
Stop loss: 15200 (I would like to see a 2hr candle below this level)
First Target: 15600
Final Target: 15900
Please let me know your thoughts. Happy trading!
Nasdaq has the potential to deepen its lossesThe Nasdaq is approaching the key zone of 14,850-14,930 . It is marked by the largest correction in the uptrend that began at the beginning of 2023.
Additionally, the last bottoms are located in this zone.
A break of this zone could bring the index down to the 100-day MA around 14,400 .
NQ1! Will Go Higher From Support! Long!
Please, check our technical outlook for NQ1!.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 15105.50.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 15419.50 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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NASDAQ ideaHey there, fellow global chart riders! 🌊🏄♂️ Right now, we're catching some bearish waves in the EQ market for the short term. But, you know, we're not rushing things. We're just hanging ten and waiting to see those weekly lows wipeout – at least for the short term, you feel me? 🤙 Let's ride out the rest of August and see how those weekly and monthly candles shape up. Stay stoked and catch you on the charts, dudes and dudettes! 📉🕯️📈🕯️
The Illuminated Ascension of the Market.Since I presented my bearish prophecy, I've traversed the vast expanse of financial data in search of the Achilles' heel to counter my own narrative. The cosmos itself has conspired this evening to bestow upon me the final pieces of this intricate puzzle.
On the ominous date of 8-18, a staggering 70% of market contracts bow to the bearish sentiment. This, I postulate, is the very reason for a tight squeeze leading up into this date – a sly play to ensure the bears' demise, leaving their positions reduced to mere ephemeral memories. (Forgive my wickedness, for in the end, it's merely the cutthroat dance of commerce).
As the sands of time flow and we bid adieu to 8-18, expect a swift downturn; a mere blip, a hiccup if you will. But fear not, for the hungry wolves shall quickly gather to devour this dip, leading us into the waning days of August and the dawn of September.
Post the ritualistic dance of the wondrous blue moon, brace for a cosmic parabolic squeeze ascending towards the 9-15 expiration - ensuring the bears are banished into the void eternally.
Upon the ethereal touch of 17.2k, my machinations will recalibrate.
Godspeed on your cosmic journey, astral adventurers.
💜✨🌙✨🌌✨🌙✨💜
NQ1! Filling the Right ShoulderBacktest of the broken balance, a confirmed Head and off to the Neckline - is the current theme for the market action. The Right shoulder of the projected H&S is being formed. Market is searching for the shoulder bottom. It may reach the lower edge of the channel, confluence with a yearly inflection level. I don't expect a breach of the Neckline soon. My anticipation is that the price would stay inside the Right shoulder for awhile similar to the Left shoulder and offer 2-sided setups for the traders.
08/12/2023
NAS Outlook 8/6NAS left a number of relative qual lows late last week. We are expecting price to want to trade below these to accumulate buy positions before ptonetinally expanding to take out last week’s high. There is a daily OB below price that may support it. the July open price is also at these levels. Interactions with both of these levels can be interpreted as short term discount pricing.
From a macro perspective there is a weekly FVG above price that may be acting as a magnet for higher prices. This is added confluence to the expectation of bullish expansion.
NQ1! BULLS ARE STRONG HERE|LONG
Hello,Friends!
NQ1! pair is in the uptrend because previous week’s candle is green, while the price is evidently falling on the 15H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 15855.00 because the pair is oversold due to its proximity to the lower BB band and a bullish correction is likely.
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NASDAQ Moving LowerLooks as if a double top has formed after the recent melt up and a secondary trendline has been broken (solid yellow). Used RSI and OBV here to show the deviation from the price action solid red). The current trendline of the RSI has broken down and has bounced lower off the 50 level while the OBV sits right on it's current trendline. Price action has seemingly failed to make a higher high and is accompanied by higher recent selling volume. Current support levels are shown as dashed lines (yellow to red) With the red box being the strongest support and current target.
The Short Term - Looks as if we return to the primary trendline of the melt up (teal solid) to see if we get a breakout or a fake out. Mom's allowance money for this week says we make that move lower due to the above analysis and since RSI was rejected off the 50 level.
The Long Term - Shows price action moving back towards and testing the 200-day MA with the battle between the 50-day and 200-day to follow afterwards. Death cross = doom and gloom, bounce = hao in the NHL did u guise pull ths off?
TDLR; Bearish Deviations - Price action moves down to the teal solid line then towards the 200-day MA. Red box is the current target. Stay tuned to see how mad mom gets if the market takes our allowance money.
None of this was meant to be financial advice, but still seems pretty legit
NASDAQ hit the 1D MA50 for the first time since March!It's been almost 1 month since we last gave a signal on Nasdaq (NDX), hitting the 15900 target (chart below):
The setting is different now, as the index hit yesterday its 1D MA50 (blue trend-line) for the first time in almost 5 months (since March 15). This isn't a buy signal yet as yesterday's 1D candle closed marginally below it. Another candle closing below it, will be a sell signal targeting the bottom of the long-term Channel Up pattern and Support 2 at 14690. That will be an excellent buy entry (target 15950) but will be invalidated if the price closes a 1D candle below the 1D MA100 (green trend-line), in which case we will sell again and target Support 3 at 14240.
If however we get a 1D candle close above the 1D MA50 before a second below it, we will buy instead and target the 15950 Resistance, as in that case it will look like the March 13 bottom fractal.
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NQ1! Back test of the Broken BalanceThe week has started from a bullish retracement. From a technical perspective we see a back test of the channel mid and eventually a back test of the broken multi-day balance. The sentiment remains bearish. A retest of the previous session high would be a warning sign for the shorts. My expectation is to see a holding pattern ahead of the inflation data. Being in the upside channel is bullish and this is the reason the market is being resilient and does not drop like a rock after breaking the balance.
8/7/2023, pre-market