Hyped about the possibilities of NQ
Why I'm so hyped?...
We just had a perfect start of a Bullish weekly model. Bearish Mon-Tues. stablishing weekly lows on Tuesday. Next will be the setting of the Weekly highs on Wed-Thursday with the following distribution on Friday if any.
If you look at the NQ chart we went from internal to internal with big boy rejection of that 4H level. Normally under these circumstances price goes from internal to external. Our next external is 18026 about 200 points away from current price.
Now, I do not expect for us to go straight there everyone here knows price does not move like that but the case is being made by several factors
We just had a perfect start of a Bullish weekly model. Bearish Mon-Tues. stablishing weekly lows on Tuesday. Next will be the setting of the Weekly highs on Wed-Thursday with the following distribution on Friday if any.
- A Weakening Dollar after the Monthly area rejection
- A strengthening Bond market - so-so
- Strength in the small caps which is usually a good indication of risk on scenarios
- Election year (Never discount the power of Big Brother)
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Take a quick look at ES1!
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YM1!
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Big Boy Dollar $$
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Bonds ZB1!
These normally run in correlation to Equities.
These normally run in correlation to Equities.
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Last but not the least Small Caps.
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Trade closed: target reached
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