Don’t miss the rally!

We’ve been talking a lot about the Nasdaq futures market (NQ), and for a good reason. We were totally on track with our analysis as both the long-term and short-term directions for the NQ are up, and the price is moving into the buy zone! That’s definitely good news for traders.

Last time, we said it was a now or never moment for the NQ. We would either see a bullish rally or a bearish drop, and thankfully, the bullish rally won out!

The buyers are now in control. The price hit support (the price point where buyers begin to reenter the market and drive the price back up) and continued to push through our counter trend line.

For the NQ, we anticipate the bullish trend to continue until around 14895.50. That’s when the up Fibonacci will be fulfilled, and the next sell-off will likely happen as traders look to take profit from their trade.

Let’s jump into the timeframe analysis for the NQ…

Daily Timeframe Analysis

The NQ fulfilled the down Fibonacci, and support held right at the price we predicted. Now, the market is in a bullish rally as it fulfills the up Fibonacci. Remember, we use Fibonacci to predict levels of resistance and support when analyzing a market.

Chart the channel

The NG daily timeframe is doing exactly what we predicted. Support held (diagonal grey line) and the price has now started to rally (long green arrow).

We expect the market to move toward a nearly +7,000 tick rise before the next sell-off happens. In the meantime, we’ll watch as the market trades in waves on the way to fulfilling the up Fibonacci.

One-Hour Timeframe Analysis

The one-hour timeframe for the NQ is also bullish. The market has very clearly broken through the counter trend line and entered into a bullish run. We expect the bullish push to continue, with retracements along the way. Remember, the market trades in waves. We’ll see up and down movement along the overall upward direction.

Chart the channel

The outlook for the NQ one-hour timeframe is bullish as the price clearly pushed through the counter trend line (diagonal grey line) and is now rallying.

The price will continue its bullish rally until the 14895.50 price point, where we expect a sell-off. The up Fibonacci is what gives us that prediction as we look for the next level of resistance that will drive the price back down into a bearish sell-off.

The Bottom Line

The overall direction for the NQ is up. We see a bullish run in both the daily and one-hour time frame. The price has pushed past the counter trend line and moved toward the buy zone. We’ll watch the NQ as it continues to rally as we look for different opportunities to open positions along the way.

The Bottom Line

The overall direction for the NQ is up as the price has entered a bullish rally

This is the type of trade where we stand to make a comfortable profit, if we follow the right strategies and stick with our trade plane!

Keep On Trading,

Mindset Advantage: Walk Away

Profit or loss, it’s the hardest thing to do.

But you have to.

Let go of the mouse, back away from your screen and give it a break.

Over-trading isn’t a concept. It’s a reality.

As you’re reading this, countless traders are draining their accounts for only one reason…

They simply can’t stop. They can’t walk away.

If you’ve hit your profit target – walk away. If you’ve hit your loss threshold – walk away.

Live to fight another day. Your account and your trading career will thank you.

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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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