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NQ1! trade ideas

"Nasdaq could experience a significant drop in the coming days.""Dear everyone, NASDAQ may decline in the next few days. I'm currently in two trades."So let's see how things unfold." As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one. Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers: Thanks!
CME_MINI:NQ1!Short
by UnknownUnicorn89138523
2024-10-17 - priceactiontds - daily update - nasdaqGood Evening and I hope you are well. tl;dr Indexes - Bullish spikes on all of them but markets closed mixed. All closed with a big tail above and we are where we closed yesterday. Near but still above the daily 20ema, near bull trend lines but also with bulls not strong enough to get a big breakout above with follow through. Most of the current patterns are in their last stages and the breakout will happen over the next days. I am neutral for now and scalp in both directions. nasdaq e-mini futures comment: Fugly chart and yes. Nested bull wedges on the daily chart and on the 1h we have a triangle and a broad bear channel since we are making lower lows and lower highs. Which one to trade? Yeah… 20400 is kinda the midpoint of this and unless bulls get a big breakout above 20700 or bears below 20200, it’s best to fade bigger moves or join momentum. If earnings are good, this will melt again but for now I do think the market should have traded higher by now, if bulls would have wanted this bad. current market cycle: Bull trend (nested bull wedges) key levels: 20000 - 21000 bull case: Bulls grinding this higher but they also have only 1 daily bar closing above 20500 for 3 months. Will they give up or strongly break above on good earnings? I would not bet on the latter. Clear bull wedge on the daily chart and we are trading near the lower trend line and daily 20ema. Support should be very strong here and we can probably expect more sideways movement for 1-3 days. Invalidation is below 20160. bear case: Bears reject everything above 20500 but they are not able to get follow through selling. No bear wants to sell near the daily 20ema and until we close below it with a strong bear bar, I highly doubt we move much. Given the 3 months inside this bull wedge, I do favor the bears slightly to break below but just very slightly. Can you short this now? Absolutely not. Invalidation is above 20700. short term: Neutral medium-long term: Very likely a retest of the ath before I expect a correction 10% or more, before another year end rally. Embrace the volatility. current swing trade: Nope trade of the day: Selling 20500 continues to be profitable… Selling the open was a banger trade. Bears also got a second and even third chance.
CME_MINI:MNQ1!
by priceactiontds
Nasdaq still unable to hit ATH despite Nvidia reboundFollowing Tuesday's drop, the markets stabilised on Wednesday in a quiet trade and now the S&P has hit a new record high, lifting the Nasdaq 100 with it. This is despite continued weakness in China, where the government’s latest attempt to shore up the property market, failed to lift sentiment overnight. The recovery has been driven by tech sector after results from Taiwan Semiconductor Manufacturing Co. helped to soothe investor sentiment hurt by a profit warning from Dutch chip equipment maker ASML on Tuesday, something which hit US chipmakers across the board. There were also reports of the US limiting advanced AI chip sales which had also sparked some concern, after Nvidia stock took a plunge on Tuesday. But judging by today's price action, it looks like dip buyers have once again swooped in as they have done all year, with Nvidia also making back its losses and some. Betting against the market has been costly in 2024, with almost every dip being quickly bought up. But with the US election just three weeks away, it could be a bumpy ride from here. For now, stock market investors are happy that central banks globally have been easing interest rates, with the European Central Bank cutting rates by another 25 basis points earlier today. While some of this has likely been priced in, the US presidential election looms large, and tight polls may drive some investors to take profits ahead of such a big risk event. Nasdaq 100 Technical Analysis and Trade Ideas From a technical perspective, the Nasdaq 100 is still looking bullish and regardless of what we think might happen from a macro point of view, you have got to respect the charts and the trend. Until such a time there is a clear bearish reversal pattern on the chart, there is little point in trying to bet against the market. I will set out the scenario that could play out for the bears, though. As traders we have to be prepared for anything that could happen. If you take a glance at the daily chart, you’ll notice the index has been consistently making higher highs and higher lows since it bottomed out in early August, following the unwind of the yen-funded carry trade. Since then, the Nasdaq has reclaimed the 21-day exponential moving average and broken through a few key resistance levels, which have now flipped to support. All signs point to the path of least resistance being to the upside—for now, anyway. Key Levels to Watch The bulls’ first line of defence sits around 20,285. The next key support is around the 19,900-20,025 area (shaded in green), which acted as support in the first week of October. At the moment, the bulls are targeting the next resistance zone between 20,465 and 20,685 (shaded in grey). This area was the point of origin of the breakdown back in July, and has now offered strong resistance on at least two occasions. This area now needs to break if we are to see a run towards the July peak of 20,759 in the coming days. However, as mentioned, we know that anything can happen at any moment. It's crucial, therefore, to keep an eye on the charts for signs of a reversal. A break of key support levels could signal an opportunity to step aside or even go short if the trend shifts. When to Get Bearish If the market reverses today for whatever reason and turns lower, then that could be the first sign of trouble, particularly after Tuesday’s bearish close. This would imply the bulls, who bought the dip on Wednesday, are now getting stuck. But for me, a clearer sign of a reversal would be if that 19,900-20,025 gives way in the coming days, for then we will have formed our first lower low since the markets bottomed in August. A breakdown here could open the door for a deeper correction, possibly sending the index down toward the 200-day moving average. But let’s not jump the gun. For now, it’s all about watching those key support levels and seeing if the bulls can keep control of the market. If they do, the uptrend remains intact. If not, we now know exactly what to look for. Final thoughts While the Nasdaq 100 has had an impressive run, caution is key as we head toward the US election. The bulls are still in control, but a sharp reversal is always possible. Keep an eye on key support levels, manage your risk, and be prepared for a shift in trend. For now, we remain cautiously optimistic, but in trading, anything can happen. By Fawad Razaqzada, market analyst with FOREX.com
CME_MINI:NQ1!
by FOREXcom
1
NQ Power Range Report with FIB Ext - 10/17/2024 SessionCME_MINI:NQZ2024 - PR High: 20335.50 - PR Low: 20318.75 - NZ Spread: 37.25 Key scheduled economic events 08:30 | Initial Jobless Claims - Core Retail Sales - Philadelphia Fed Manufacturing Index 11:00 | Crude Oil Inventories Maintaining Tuesday lows - Inventory response off daily Keltner 20 average Session Open Stats (As of 12:35 AM 10/17) - Weekend Gap: N/A - Session Gap 7/24: -0.32% (open > 19946) - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 295.53 - Volume: 17K - Open Int: 242K - Trend Grade: Bull - From BA ATH: -4.2% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 20954 - Mid: 19814 - Short: 17533 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQZ2024Long
by mv3trader5
NQ Power Range Report with FIB Ext - 10/16/2024 SessionCME_MINI:NQZ2024 - PR High: 20352.00 - PR Low: 20306.00 - NZ Spread: 102.75 No key scheduled economic events Swing back below Monday's low - Inventory front run Keltner avg cloud Session Open Stats (As of 12:35 AM 10/16) - Weekend Gap: N/A - Session Gap 7/24: -0.32% (open > 19946) - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 306.42 - Volume: 19K - Open Int: 240K - Trend Grade: Bull - From BA ATH: -4.0% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 20954 - Mid: 19814 - Short: 17533 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQZ2024Long
by mv3trader5
Nasdaq Futures (NQ) Favoring Upside Due to 5 Swing Elliott Wave Short Term Elliott Wave View in Nasdaq (NQ) suggests that the Index formed a 5 swing sequence since 8.5.2024 low. Since 5 swing Elliott Wave sequence is a motive sequence, it favors further upside. Up from 8.5.2024 low, wave 1 ended at  20025.25 and pullback in wave 2 ended at 18339.75. Wave 3 higher ended at 20538 and dips in wave 4 ended at 19818 as 1 hour chart below shows. Internal subdivision of wave 4 unfolded as a zigzag Elliott Wave structure.  Down from wave 3, wave ((a)) ended at 20056 and wave ((b)) ended at 20331.75. Wave ((c)) lower ended at 19891.58 which completed wave 4 in higher degree. The Index has turned higher in wave 5 with internal subdivision as a 5 waves impulse. Up from wave 4, wave (i) ended at 20267.25 and pullback in wave (ii) ended at 19902.50. Wave (iii) higher ended at 20482.75 and dips in wave (iv) ended at 20314.75. Final leg wave (v) ended at 20680 which completed wave ((i)) in higher degree. Wave ((ii)) pullback is proposed complete at 20254 with internal subdivision as an expanded flat. Near term, as far as pivot at 19819.58 low stays intact, the Index has scope to extend higher within wave 5.
CME_MINI:NQ1!
by Elliottwave-Forecast
NASDAQ: Push to 22K or Drop to 19K? Key Levels and Profit Zones Evening Traders NASDAQ is hanging on to the 20,256 level, but if we break lower, we could be looking at a slide down to the 20,000-19,200 range. On the bright side, there’s a ton of support that could push us up to 21-22K. If that happens, it’s a great spot to take some profit before we hit major resistance—or worse, a deep correction. Let’s dive into the key levels to watch and where to take action before things get bumpy. Will NASDAQ keep climbing, or are we in for a pullback? If this gave you some insights (or at least made you think twice about your next move), give it a like, drop your thoughts in the comments, and hit follow for more updates. Your support keeps me going Happy trading Mindbloome Trader
CME_MINI:MNQ1!
by Mindbloome-Trading