NQ Possible Trade ZonesJust a few levels that I think are important to consider when looking at the NQ futures.
Nq100
NQ Trade ScenariosWith Nasdaq Futures seeing high volatility in a bearish trend, there are 2 levels that I like for a trade with the thesis that as long as we are below 7210, we are going to test the 6900 lows.
Trade Setup 1: I think a retest of the lows would be a successful and see at least a 100 point bounce.
Directional Bias: Long
Price Target: 7100
Good Entry: 6900-6930
Risk/Reward: Max risk of 30 points, 200 point potential reward
Trade Setup 2: I think a open to the beginning of the week would create a nice short opportunity for a potential of 300 point downside.
Directional Bias: Short
Price Target: 6900
Good Entry: 7200-7230
Risk/Reward: Max risk of 30 points, 200 point potential reward
NQ Futures Long2The trade idea I posted last week, we never got the price target to set up a nice short. However, the trend was clearly down and there was no signal to long until the look below and fail on Thursday down in the 6900-6930 area.
Give the close we had Thursday/Friday, it looks like some buying algos showed up.
Weekends can change the complexion given our heightened volatility but it looks like a long trade is setting up for a test of the lower 7300s at least.
Directional Bias: Long
Price Target: 7300-7320 area
Good Entry: Retest of the speculative red trendline at 7100-7130 or a break above 7200 intraday
Risk/Reward: Max Risk of 30 points/100 pt+ Reward
Good luck to all.
Target hit. New Higher Low made. New long.TP = 7,640 hit as the 1D Channel Up (RSI = 50.527, MACD = 11.240) advanced towards a new High at 7,700. It has since pulled back to make a Higher Low and we think that this has been priced at 7,400. We are going long again aiming at the next potential Higher High. TP = 7,828.50. When 7,640 is crossed again, we will place the SL there to ensure the safety of a big portion of the profits.
1D Channel Up. Long.Nasdaq is on a simple 1D Channel Up (RSI = 63.030) halfway from completing a very aggressive Higher High candle sequence (MACD = 87.610, Highs/Lows = 108.2500, B/BP = 183.1400). As seen on the chart it posts recurring patterns that can help us calculate the next High, which should be around 7,700. Our long's TP = 7,640.
NASDAQ 100 Bearish GartleyA Bearish Gartley pattern on the NASDAQ 100 chart, first target at 6733 points.
Nasdaq 100 - LONGMoving average 200 could not get break down in the last 4 days. It is a strong support. RSI and MACD too low. I believe Nasdaq should close green in monday and the following days.
Tomorrow important day for Nasdaq final move Market looking for FULL DAY consolidation in order to get main volumes for next avrg. 10 days buy move !
SP500 in a .618 down channel Follow the red arrow, in a .618 down channel. Price should go up and touch the channel then continue down.
Also, RSI divergence confirms the down trend
NQ Trade updateAs we creep closer to our second target we are pulling stops to Break Even plus 10 to lock the trade in. We are fairly confident we will see target number 2 early in the session today. Regardless, we want to manage the trade properly. Yo never know when the PPT will swoop in to save the market. ;) Trade well!
Nasdaq flag? The $NQ chewed up support which made it non existent over the last couple of days. The $NQ could be starting to develop a bear flag. We will watch this closely. We are short term bullish but long term bearish for now. The swings are wide. If you "must" trade, reduce your size and focus on one maybe two markets.
