It’s now or never for the Nasdaq 100 futures market (NQ), as it’s fulfilled the down Fibonacci and looks to make a U-turn toward a nearly 7,000 tick bullish rally!
This opportunity is pretty straightforward: we’re waiting for the market to enter into the buy zone. Once we see the price push through the counter trendline in the one-hour timeframe chart, we’ll plan our entry as the market begins to rally.
Remember: we use the one-hour timeframe analysis to plan our entry into a market. It allows us to see when the price has entered into the buy zone to help prevent us from buying while the price is still moving down.
If the U-turn is going to happen in the NQ, it’s going to happen soon. Let’s take a look at the timeframe charts to get a better idea of what’s happening…
Daily Timeframe Analysis
The daily timeframe shows that the market has fulfilled the down Fibonacci. That means the price has hit a level where we expect it to U-turn toward a bullish rally. As I said, it’s a now or never scenario for the NQ right now.DAILY TIMEFRAME
The direction within the daily timeframe is still up
The current direction for the one-hour timeframe is up
THE BOTTOM LINE
The NQ has fulfilled the down Fibonacci. Now we wait for the U-turn
The NG has fulfilled the down Fibonacci, hitting a known U-turn point. The price should begin to push through the counter trend line toward a bullish rally (long green arrow).
When the U-turn hits, we could see a nearly 7,000 tick rally to the top. That’s a significant increase and a great opportunity to make money! Let’s take a look at the one-hour timeframe to plan our entry…One-Hour Timeframe Analysis
Our entry into the NQ is pretty straightforward. We wait for the market to enter into the buy zone, confirming that the price is no longer dropping and is headed for a bullish rally. Once we see that, we’re good to go!
We’re waiting for the NG to enter into the buy zone (above the diagonal grey line) so we can plan our entry.
If the price doesn’t move into the buy zone, however, we could be looking at a bearish trend for the NQ. It’s a bit surprising given the stimulus efforts the government has implemented to keep the market afloat.
Either way, we’ll be keeping an eye on the NQ.The Bottom Line
Our best strategy is to monitor the one-hour timeframe for the NQ and see if the market moves into the buy zone. If it does, we’ll be ready to jump in and take a position in the NQ as it prepares to rally nearly 7,000 ticks up!
We’ll keep an eye on the NQ and wait for that U-turn to develop
This trade is yet another example of how timeframe analysis aids us in identifying the best trades, avoiding big sell-offs, and increasing our chances of making profitable trades.
Keep On Trading,
Mindset Advantage: Stop
If it gives you pause… then pause.
How many times have you plowed into a trade… with second thoughts? Once you enter, your stomach immediately drops – the regret is almost unbearable.
Welcome to trading for millions of retail traders. The very thing that’s supposed to bring the freedom, happiness and financial independence they’ve been hoping for… is making them sick to their stomachs.
Why do something that makes you feel less than awesome? Take a minute. Save your money and your account. Collect yourself… practice, watch the videos, talk to one of our traders and get your mojo.
Simply put… Just stop and only trade when you’re ready. There’s plenty of money to be made out there.
Traders Training Session