Will you be ready for this market shift?

Good morning, Traders!

The Nasdaq futures market continues to perform well (NQ). Both the short- and long-term trends are positive. However, we should prepare for a pullback in the near future.

Such a pullback/sell-off can be brief, with a swift return to a bullish run. However, there’s the potential that a sell-off may evolve into a negative trend. How can you pick up on all of these potential market directions? To understand more, check out this training video on market patterns that I created!

Now let’s take a look at the NQ’s timeframe analysis to see what’s happening:Daily Timeframe Analysis

When we look at the daily timeframe chart for the NG, we can see that the general trend is up, although the price needs to move higher if it’s to stay about from support within the channel.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 daily NG is still up, but needs to progress a bit higher or it risks slipping into a sell-off toward support (bottom grey line).

If the rally is to be sustained, additional upward movement is required. If no more gain is realized, the market may enter a reversal and fall back to support.

Take a look at this piece I wrote to learn more about how price movement works in the market.

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One-Hour Timeframe Analysis

In the one-hour timeframe analysis, the NQ has found support. Remember that support is the point at which buyers re-enter the market, causing the price to rise again.

We want to use counter trendlines to confirm that the price has started to drive bullish and moved into the buy zone when we notice a shift from a bearish decline to a strong rally.

Check out my training material on how counter trendlines work for a better perspective on entering the market in situations like this one.

Chart the channel

The NQ is holding near support (upper grey line). If the price drops below support, we could see a significant sell-off. If the price stays above support, we could see the short-term direction continue to move up.

The market should continue to rise within the one-hour timeframe if support holds. However, if the price falls below support, a big sell-off might develop until the price bottoms out.The Bottom Line

The NQ is trending upwards in both the short and long term. When looking at the one-hour timeframe, though, the market remains near to support.

If the price breaks through support, it might result in a sell-off and a short-term negative trend. We’ll wait for the price to bottom out and rebound on a new support level if that happens.

The Bottom Line

Both the long-term and short-term directions for the NQ are up. We’ll want to keep an eye on the short-term, though, as the price could drop below support and trigger a bearish drop

Right now, we’ll keep watching the price movement and look for opportunities to enter the market at low prices within the buy zone!

Want to learn more about trading futures like the NQ? Check out my free trading materials to get started. You don’t want to miss out!

Keep On Trading,

Mindset Advantage: Own It

It’s not the market. It’s not your indicator. It’s you. Own it.

‘Oh that one was a mistake’…. and then there’s ‘I had the settings on my indicator wrong’… or our personal favorite: ‘I was trying an experiment’…

Like a 7th grade English teacher, after a while you hear them all. The number one thing we look for when working with a new trader? Accountability.

Own where you’re at with your trading. Embrace the failures and the setbacks. Stare them in the face with an unflinching honesty.

Only then will you conquer and advance to consistent profitability.Traders Training Session

So you want to be a futures trader

So You Want To Be A Futures Trader…

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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Josh Martinez

Josh Martinez

Family Man & Trading Guru

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