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Nq100

NQ1!, New Balance Range EstablishedThe market pulled back to previous 3 day low and completed the range. I have put a box around the new range to watch. This is a normal market action - a development phase, finding a short term top, finding a short term bottom than consolidation within that range. Even though the daily bar looks bearish in reality there is no damage have been done to the bullish case. The breakout from the balance below remains intact. I anticipate that the buyers will continue to be active at supports. A break below today's low would be a red flag for the bulls. 3 scenarios could play if that happens: 1. An accelerated move to 6687 Jan 2019 POC 2. A retest of the breakout area 6800 and push back into the 6 day balance. 3. A potential breach of the 6800 with a snappy push back suggesting a false breakdown, which will be ideal in order to push back above 7000 Of course the market can do something else and offer a completely different scenario. Tomorrow is Friday and options expiration event. Based on the implied volatility and expected moves for the week ending February 8 the ranges are 6759-7000. The upper target was tagged earlier this week. Here is what to watch first. The RTH session spent a lot of time building a balance 6856.25-6900 with 6889 POC. That balance was broken to upside suggesting that the buyers re gained a short term control and stabilized the price. If 6889-6900 level holds the buyers will go to retest today's high. Today's low is the last resort... My personal bias remains neutral-bullish. I'm not projecting long term targets. I prefer to consider inflection points and what the price does around them. Even in today's selling there were a few decent long term opportunities simply based on the observed price action. 02/07/2019
CME_MINI:NQ1!
by SviCapital
4
NQ1!, Balance Breakout Remains IntactThe recent balance, last rectangle on the chart, remains intact. The price is on the path to retest December POC and December high. These are objective targets based on the market action theory. Return into the previous balance would suggests some weakness. It remains to be seen how the price behaves if that return happens. So far the bullish bias is intact as well. AMZN reported last week and pulled back to its support dragging down the NQ price. But it is at the support and support remains support until broken. An interesting fact about the AMZN. Despite having its share buy back program approved for $5B they spent $0 on it and continue to invest money in the infrastructure development. I admire that. I wish other companies followed that example. Friday was inside day, the price needed to rest and process the previous day breakout. I was watching the price action closely on 5 min timeframe, which is one of my preferred timeframes for day trading. The Globex traders tried to bring the price down but 8:30 EST NFP report push the price right back in. That was a clue to get long at 6872 level, which is November 2018 POC. The price managed to reach the first target - previous day RTH close, but the bulls were not able to reach the second target - January 2019 Close. As I mentioned above the AMZN dragged the price down outweighing AAPL buying. As I mentioned before, I don't use any indicators. By nature the indicators are lagging and can fool a day trader. Instead, I look at the market action artifacts and use market profile as a graphical tool that helps to cut the noise and visualize the market action. From my experience, this is the only true and unbiased way to trade. The price tells a story. At this point I consider a few near term scenarios: - A break above recent high would suggest the continuation of the upside move to retest the December 2018 POC and Hi - Retest of the recent break out area and consolidation - Breakdown of the recent balance and move to January 2019 POC. This one could suggest a false breakout pattern and more significant impact. The market is a complex organism, the scenarios may have deviations and be interrupted by news but the price action analysis is helpful to detect what is supposed to happen and what did not happen and that is a valuable information. 02/02/2019
CME_MINI:NQ1!
by SviCapital
5
Nasdaq 100 Futures - Is the BOTTOM in place ???NQ1! Here are several zones, levels, and projections of where I'm looking for price action to occur over the coming week(s). There is 'some' confirmation for me to believe that we just saw the bottom put in place (for now) with potential to reach new all time HIs. Within each zone or level, am using other price action confirmations before entry (usually double bottoms/tops) and with the wide ranges we're seeing lately, targeting 50, 75 to 100+ points on each trade. If price falls to new LOs, below, the red band levels, then I will look at flipping this entire idea to the reverse short side - simple. Will find out very quickly with the previous close just coming off the LOs.
CME_MINI:NQ1!Long
by ProSTrades
1
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
CME_MINI:NQ1!Short
by ridethemwaves
3
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.
CME_MINI:NQ1!Long
by ridethemwaves
1