Which way will this market go?

Good morning, Traders!

We’re still watching the NQ futures market as the price has reached resistance, and it looks like it could be pushing above the top of the channel.

If that happens, the market is likely to form a new high price, followed by a retracement (temporary drop in price), and then a rally. For more information about predicting future market price direction, check out this video I made.

If resistance holds, the price will drop back down toward support before rallying again.

Either way, we have multiple opportunities to buy the NQ as the overall direction remains up.

Now let’s look at the daily and one-hour timeframes for our NQ setup:Daily Timeframe Analysis

The NQ daily timeframe’s current trend is continuing upward. The market’s support (lower grey line) has held, and the NQ is bouncing back into resistance (upper blue line).DAILY TIMEFRAME

The direction within the daily timeframe is up

1-HR TIMEFRAME

The current direction for the one-hour timeframe is up

THE BOTTOM LINE

The U-turn direction remains up

The NQ daily timeframe chart

The direction for the NQ daily timeframe remains up as the price continues to move toward the up Fibonacci of 14895.5

If the current trend continues, a +4000 tick opportunity might emerge as the market rallies. Remember that the market moves in waves, therefore we shouldn’t be concerned if there are price dips inside the rise. When the overall direction of the market is trending higher, we have the opportunity to buy the market at a low price within the buy zone.

Take a moment to learn more about entering the market on counter trendline breaks here.

There’s a lot of backroom whispers going on right now that are saying if a stimulus deal isn’t reached soon that we might end up with a major contraction in the markets.

But Josh has identified an opportunity that can help you turn that potential contraction into big profit potential.

If you aren’t always quite sure about what to do in the current environment, we have VERY good news for you. Expert trader Josh Martinez keeps uncovering increased trading opportunities like crazyand they could happen at ANY moment.   Click Here to Learn How to Get Started Today While the Market Conditions are so Ripe for the Picking.

One-Hour Timeframe Analysis

One look at the one-hour timeframe tells us that the NQ is about to break through resistance! If that happens, the price will rally to a new high, drop back down, and then prepare for the next rally. Remember that the market trades in waves.

Chart the channel

The one-hour timeframe for the NQ confirms the market’s upward direction could push above the top of the channel (upper grey line).

If resistance holds, we’ll see a retracement back down to support, followed by a likely rally. So, no matter which way the price breaks, we should have opportunities to buy the NQ before it rallies again.

Now would be a good time to refresh your memory on how tick values work. Check out my article on the subject here.The Bottom Line

The NQ futures market’s general trend is upward! As the market continues to move, we’ll keep a close eye on our timeframe charts. Our charts will aid us in identifying opportunities to implement our NQ entry plan. That is why they’re such a crucial tool for our trading technique!

The Bottom Line

The short-term and long-term directions for the NQ are clearly up. We’ll keep an eye on our timeframe charts as we look for opportunities to buy the NQ

You’ve seen the setup for the NQ futures market. Now it’s time for you to take the next steps toward being a successful trader! Don’t miss out on this opportunity. There’s so much more to learn, but you have to make the decision now to get started!

Keep On Trading,

Mindset Advantage: Acceptance

It’s not the market. It’s not your indicator. It’s TRADING.

Let it go. The first step toward consistent profits comes when you accept the reality that losses will occur. Prices have a mind of their own at times. The institutions are at the wheel. The sooner you accept this, the more progress you’ll make.

Look at the past, but don’t stare. Accept what’s happened and move on.

Target tighter entries. Get the heck out of those losers you’re hanging on to.

Accept. And start to enjoy trading.Traders Training Session

Long vs short timeframes in trading

Trading Longer Time Frames vs Shorter Time Frames Tutorial

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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