I have a special “sneak peek” opportunity for you this morning. I’ve taken one of my trade setup videos and “leaked” it online for everyone to see!
I don’t usually do this, so take a moment to check it out while it’s still available. You’ll see how I set up my trades every morning as I walk you through a recent session. I go over the most popular futures markets and explain how we follow them to make money!
Check it out now while you still have the chance! Josh’s Daily Direction Video Leak
Now let’s jump into today’s Daily Direction!Daily Timeframe Analysis
The daily timeframe for the Nasdaq 100 (NQ) confirmed my suspicions that a sell-off was on the way. As you can see in the below chart, the price dropped down to 12958.50, just as our Fibonacci said it would. For more information about Fibonacci, check out my article on the subject.DAILY TIMEFRAME
The direction within the daily timeframe is still up despite a sell-off
The current direction for the one-hour timeframe is down, but we’re ready for a U-turn
THE BOTTOM LINE
The NQ has hit the down Fibonacci. Now we wait for the U-turn
The NQ experienced a sell-off, with the price dropping to 12958.5. We’re expecting the market to hit a U-turn soon and move into a bullish rally (long green arrows)
Right now, our best bet is to watch the market and prepare for a U-turn. Now that the price has hit support (lower grey line), the market should start to rebound and move into a bullish rally. That’s because the lower price should spark some interest in investors to start buying back into the NQ. That’s when we’ll turn to the one-hour and confirm our buy-in strategy…One-Hour Timeframe Analysis
While the one-hour timeframe for the NQ is down, we’re expecting the market to break the counter trendline and enter into the buy zone (grey diagonal line). Once that happens, we’ll have opportunities to buy into the NQ.
The one-hour timeframe for the NQ is currently down, but we should see the market break the counter trend line (diagonal grey line) and enter into the buy zone. When that happens, the market will rally bullish (long green arrows) and give us a nice buy opportunity.
Our best strategy is to wait for the price U-turn to hit, giving us confirmation that the market is turning toward a bullish rally. Remember that we want to buy at a low price, but only when we know that the market is U-turning toward a rally. Otherwise, we’d be buying too early and risk losing money as the price continues to drop.The Bottom Line
We’re close to seeing a U-turn in the NQ. Once that happens, we can enter the market and watch the bullish structure develop. It’s best to watch the daily and one-hour timeframes until we see that U-turn hit.
We’ll keep an eye on the NQ and wait for that U-turn to develop
This trade is another example of how timeframe analysis helps us zero in on the best trades, avoiding major sell-offs and giving us more opportunities to make winning trades!
Don’t forget to check out my video leak to learn more about how I set up my trades every morning. And be sure to utilize my free resources!
Keep On Trading,
Mindset Advantage: Invite Focus
Minimize those screens. Stop texting. Stop Stressing.
Everyone talks about it. Very few people do it. Why? Because it’s darn near impossible!
To find true focus in this day and age is nearly unheard of. No wonder meditation camps are springing up all over the world.
Instead of taking 8 hours to ponder the many edges and textures of a raisin… why not just shut off a few distractions?
Turn off the extra screens. Put the flat screen with the news on mute. Stop texting. Just you and the market. Start seeing it at its natural pace – not as it comes to you (because you’re catching up).
Find focus and see the opportunities!Traders Training Session