Waiting on the NQ to Turn Around

Good morning, Daily Direction readers!

We’re looking at the Nasdaq 100 E-mini futures market (NQ) today as we continue to monitor some very fascinating market events.

With everything going on in Europe right now, we all know that Wall Street investors are keeping a careful eye on the news cycle.

As things progress, staying true to our approach and keeping an eye on our timeline charts is critical.

The Nasdaq’s long-term trend is still up, but its short-term trend is down. The market is approaching our down Fibonacci price point of 12282.5, when it should resume its upward trend and return to the buy zone. All we have to do now is sit and wait.

While this may be discouraging, we can be assured that our trading technique will lead us and keep us on the right track

And with that, let’s dive into the current timeframe analysis for the NQ:

Daily Timeframe Analysis

The market is heading for our down Fibonacci of 12282.5, as seen in our timeframe chart. We expect the NQ to rise over the current trendline and into the buy zone once it reaches that level.

While the market continues to move, we’ll examine the data and keep an eye on our timeframe charts.

We don’t want to miss any market movements given the current situation.

That’s why it’s critical to utilize all of the data we get during our research. It keeps us focused and prevents us from making emotional decisions.

DAILY TIMEFRAME

The long-term direction is up for the NQ

1-HR TIMEFRAME

The short-term direction for the NQ is down

THE BOTTOM LINE

We’re waiting for the NQ to push into the buy zone

Learn more about the Daily Direction Indicators here…

Daily timeframe
While the NQ’s short-term trend remains down, we believe the market will ultimately break the trendline and enter the buy zone.

We’ll dive in and keep looking for good trading possibilities as the markets respond to the ongoing geopolitical crises discussed in the news.

Keep in mind that we’re attempting to manage our risk in such a manner that we may gain without overleveraging our accounts.


As we watch the market move, keep an eye on those charts and brush up on my free trading resources.

The Bottom Line

The NQ is now trending upward in the long run, but is currently trending downward in the short term.


The market should push back into the buy zone once it reaches our down Fibonacci, allowing us the opportunity to hunt for places where we can execute our trading plan.


Please read my free articles to understand more about how we pick when and where to enter a market.

The Bottom Line

As your trading account grows, you should take advantage of my experience to refine your own trading technique! There’s no use in doing something if you don’t have a plan in place, so make sure you have one before you start.

Keep On Trading,

Mindset Advantage: Just Breathe

If you’re not breathing, you’re not focused. If you’re not focused, you can’t see the market. Opportunities slide by in an instant. Hazards reveal themselves only when it’s too late.

You need to breathe. Breathing exercises have proven to reduce stress and increase focus.

Sure, you’re already breathing if you read this. But when you trade… you need a breathing regimen. Whatever it is: Through your nose, out your mouth counting to 10 or 100. Find a method and routine that works for you.

You’ll find balance, clarity, and focus when you trade. Your heart rate will come down and you’ll just feel better.

Try it. And enjoy your trading.

Traders Training Session

Getting Started
Getting Started With Futures Trading

Stay tuned for my next edition of Josh’s Daily Direction.

And if you know someone who’d love to make this a part of their morning routine, send them over to https://joshsdailydirection.com/ to get signed up!

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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