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
The current direction for the one-hour timeframe is up
THE BOTTOM LINE
The U-turn direction remains up
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.
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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.
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.
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 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