An inside weekly bar on the Nasdaq. This has been a powerful move and while we're in need of a good pullback it's not a good idea to fight this trend. We are looking for sideways to higher over the next week and will trade it light on dips. REMEMBER: No trigger no trade.
With a monster gap up Friday the indices sold off nicely. NQ1! is out favorite to trade and with this reversal candle we will start to nibble on the short on any bounces. If the NQ can get some legs to the downside we will look for 4200 and then 4150.
How prices went down after touching the supply level. Our TP hits instead of SL.
NQ sits above long term channel resistance, and is likely to fall back into the channel this week given the pressure on NQ's weekly RSI, Stochastics and MACD which are rolling over from recent tops. High momentum names like Netflix (NFLX) and Tesla (TSLA) continue leading the topping process on NQ, anticipating the end of US QE in October. Visit goo.gl for...
BUY STOP at 4076 hoping for a 3-4 point push higher.
Is this where we find out if the fear of missing it AFTER they already missed it emotional hot money crowd gets shaked and baked? Read on for the definition in the chart notes. Knowing what to watch out for is just as important as knowing what to watch for, especially when it comes to risk management. By always being aware of that it keeps you grounded and from...
Possible heads and shoulders forming. On the watch list for now.
Price has been flirting with this support( blue line ) for what looks like it's going to be two days with only .5 hours left to trade. Meanwhile the angle for getting into a position changed a good bit( red line ), What will it take for a bounce or a move bellow this floor and trigger a trade?
This is a nice move in the NQ1! If you weren't positioned short last week you most likely missed this move. We were not short and since all the indices are heavy we will aggressively be shorting any bounces. Part of being a successful trader is not being married to one side of the trade.
Nasdaq still moving up. We had a nice rebound from the bottom of the (steep) yellow channel. We just hit first major resistance: top of the blue channel. Even if price hits the next resistance - top of the yellow channel - we will probably observe a price to indicator divergence. Momentum is still quiet strong... and don't forget that this is a weekly chart....
After a "fall from cliff" in the Q4 of last year, $NQ made a bullish pennant and broke out beginning this year. Reaching the 22 (78.6 ret. of the 2013 high). Dropping down to this year low @11 (78.6 ret. of this years high), $NQ creates again a bullish pennant, ready to break out. The breakout level to watch is 13 with a target 19.50-62
Oversold should start rebounding here. Great Institutional support and very high short Interest(>50%?) could lead to short squeeze under right circumstances.