A Short-Term Setup in the NQ

With the old adage of “Sell in May and go away” as a backdrop, today the market is setting up some trading ideas in the buy zone. 

This includes the technology-focused Nasdaq 100 Index futures contract (NQ).

Here’s how I see this index and its contract shaping up for a positive trade idea today.

The Nasdaq 100 Index Trade Idea

The stock market is showing some positive signs as the month of May rounds out to its end.

Right now, the Nasdaq 100 Index futures contract (NQ) is in the buy zone on the one hour time frame presenting a trade idea.

Here’s how the chart is setting up…

Nasdaq 100 Index Futures Contract (NQ) Price and Technical Analysis – Source: TradingView

And here’s how I see the trade idea shaping up…

The NQ one hour time frame is in the buy zone, in an up trend, and it’s making higher highs and higher lows.

  • Entry: Counter trend line break-bullish in the buy zone
  • Stop: 12,183.75
  • Limit: 13,269.75

As long as the market stays above the up trend line, it will be a good idea to turn to

the five minute time frame and look for Tunnel Trader / Destination Trader long

ideas towards the one hour up Fibonacci.

The Bottom Line

For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

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Keep on trading,

P.S. I have been teaching more and more traders how to make their own trading accounts work so well that they can effectively become a side job with plenty of regular earning opportunities, particularly in digital currencies like BTC and ETH.
To learn how this might work for you, I have a special on-demand presentation showing how this works utilizing my War Room service that you can access here for free.

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

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