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  • #61
  • Jul 25, 2024 4:32am Jul 25, 2024 4:32am
Quoting RickM
{quote} Hi Fadhi Why weren't you selling, why fight the downwards momentum. Now its still -6500 Delta for the Day after London open, best to stay with Shorts until they stop us our. Nice thread Cheers
You're right! I did not expect this selloff crossing all daily and weekly resistances easily! For me the outlook is still "Buy" with FED Rate cut and earnings season. So far major stocks earnings are good...
Anyhow, we should trade what we see, not what we think.
  • #62
  • Jul 25, 2024 4:42am Jul 25, 2024 4:42am
Good day!
NQ is clearly in a downtrend from ST perspective (MT&LT is still long).
NQ has broken all weekly and daily resistance and has reached a Monthly resistance (green dashed line) which is a stronger one. Is it the end of this selloff? I don't know.
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At lower TF, I'm looking for bearish flag to sell. The sell entry should be after the break and test of the flag at 15mn TF.
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  • #63
  • Jul 25, 2024 5:49am Jul 25, 2024 5:49am
While I'm waiting for NY Session, Nasdaq is influenced by major stocks. These days NVDA is a leading one. NVDA selloff is close to a key level 109. So NQ still has a little room to go further down until NVDA earnings. Based on those earnings, NQ will behave. Undershoot and overshoot earnings, NQ will follow. Inline ones along with rate cut tend toward resuming the buy outlook. But we will see when it happens. So far, market is selling off all inline earnings!
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  • #64
  • Jul 25, 2024 6:20am Jul 25, 2024 6:20am
hi today can be pull back then lower again --- or today lower till uk close Friday then some correction !!
  • #65
  • Jul 25, 2024 6:45am Jul 25, 2024 6:45am
Quoting fays22
hi today can be pull back then lower again --- or today lower till uk close Friday then some correction !!
It's possible as NQ is at a Monthly resistance level.
  • #66
  • Jul 25, 2024 6:57am Jul 25, 2024 6:57am
I went short after the break and test of the bearish flag. Will move my STP to BE after 50 points.
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  • #67
  • Jul 25, 2024 8:14am Jul 25, 2024 8:14am
Quoting Fadhl
I went short after the break and test of the bearish flag. Will move my STP to BE after 50 points. {image}
Stopped at BE!
NVDA reached the key level and buyers jumped in. This might be the end of the sell off. Will update later. Thanks!
  • #68
  • Jul 25, 2024 10:22am Jul 25, 2024 10:22am
A potential Sell opportunity... Will confirm my entry if it happens...
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  • #69
  • Jul 25, 2024 1:29pm Jul 25, 2024 1:29pm
Quoting Fadhl
A potential Sell opportunity... Will confirm my entry if it happens... {image}
I hope some took advantage of it!
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  • #70
  • Jul 26, 2024 4:17am Jul 26, 2024 4:17am
Good day!
We have PCE data today. It should be inline with expectation. Since yesterday, NQ is trading inside bar (H4). So uncertainty is prevailing and may be we reached the bottom and a consolidation/accumulation phase has started. In this case, Buy the bottom of the range and sell the top will be my strategy.
NVDA might go to 97 level. It will be a great opportunity for LT investment.
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  • #71
  • Jul 26, 2024 5:22am Jul 26, 2024 5:22am
Regarding NVDA, it should fill the daily gap before continuing up. This might happen prior its earnings, later in August 28, or during an inline earnings.
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  • #72
  • Jul 28, 2024 12:09pm Jul 28, 2024 12:09pm
My Outlook for the next few weeks: Mainly SELL!
In the ST, NQ is around the end of the initial downtrend wave. We should see a retrace up to 50%, then resuming the downtrend.
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  • #73
  • Jul 29, 2024 5:06am Jul 29, 2024 5:06am
Good day!
During Asian Session, NQ moved up; then with London session market moved down and currently the price is inside the H1 of the London opening session. With NY opening, I expect price to test the top of the ST Range which is last Friday high, then down to the bottom of the range. As I already mentioned, I think we're in an accumulation phase.
My plan is to Sell the top of the range 19228; price is almost there.
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  • #74
  • Jul 29, 2024 6:12am Jul 29, 2024 6:12am
If no candle (body of the candle) closes above 19228, which is the plan, price should go to test the low of the range.
So, buyers will try hard to close above that level; as soon as they give up, jump in.
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  • #75
  • Jul 29, 2024 7:32am Jul 29, 2024 7:32am
My first planned entry for today
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  • #76
  • Jul 29, 2024 8:02am Jul 29, 2024 8:02am
Quoting Fadhl
My first planned entry for today {image}
TP1 hit! STP moved to BE.
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  • #77
  • Jul 29, 2024 8:18am Jul 29, 2024 8:18am
Quoting Fadhl
{quote} TP1 hit! STP moved to BE. {image}
TP2 hit as well
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  • #78
  • Jul 29, 2024 9:18am Jul 29, 2024 9:18am
Quoting Fadhl
{quote} TP2 hit as well {image}
Stopped for my last position at BE. I'm done for the day.
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  • #79
  • Jul 30, 2024 5:04am Jul 30, 2024 5:04am
Good Tuesday!
Same as yesterday, NQ is ranging (consolidation/accumulation phase). We're still inside D/H4 candle (i.e., the ST range); Hence Sell High, Buy Low, unless price breaks and closes above or below the ST Range.
We've a bearish pattern, price is close to high level.
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  • #80
  • Jul 30, 2024 6:50am Jul 30, 2024 6:50am
Here is my planned Sell entry. From TA, it's correct to go blind with it, but we have US data news coming in a few minutes; so better to wait...
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