DislikedI put a Sell LMT at 19563; STP= 19640; TP= Every 50 points until 19160. {image}Ignored
- #342
- Sep 15, 2024 12:32pm Sep 15, 2024 12:32pm
- Joined Jan 2016 | Status: Trader | 3,920 Posts
Good week!
Upcoming weekly analysis: TA analysis
Weekly Chart
NQ provided a full green bullish candle. However, this candle is inside the previous red bearish candle. So it's a noise one until the break of the red candle.
Daily Chart
NQ close was bullish. We're still at LH Swing as long as price is below 19635. From TA perspective, we should see a continuation up. However, the Friday daily candle has a large wick from the top which tells us that new sellers jumped in and pushed the price down. Hence we should wait and see how today/Monday develops to make a clear decision.
H4/H1 Chart
The last H4/H1 candle was a red candle. Price might:
1- continue to drop to test Friday low; or
2- reverse up and test Friday high up to 19635.
FA analysis
We have the FED this week. US economy is slowing with a risk of recession. Hence, the FED cut:
1- .25 is 100% a done deal and already priced in; If this will be the case, it means FED does not have enough data to confirm the recession status. This is absolutely 100% opposite of the market perception. Market sees recession as a fact.
2- .50 cut is possible and market will be happy with it as the FED is timely accurate in terms of tackling the recession.
In order to get a .50 cut, I think market will make pressure on the FED by dropping stocks and indices prior to the meeting. Hence, I expect a sell off until the FED where NQ might go up to 18000-18245.
GL!
Upcoming weekly analysis: TA analysis
Weekly Chart
NQ provided a full green bullish candle. However, this candle is inside the previous red bearish candle. So it's a noise one until the break of the red candle.
Daily Chart
NQ close was bullish. We're still at LH Swing as long as price is below 19635. From TA perspective, we should see a continuation up. However, the Friday daily candle has a large wick from the top which tells us that new sellers jumped in and pushed the price down. Hence we should wait and see how today/Monday develops to make a clear decision.
H4/H1 Chart
The last H4/H1 candle was a red candle. Price might:
1- continue to drop to test Friday low; or
2- reverse up and test Friday high up to 19635.
FA analysis
We have the FED this week. US economy is slowing with a risk of recession. Hence, the FED cut:
1- .25 is 100% a done deal and already priced in; If this will be the case, it means FED does not have enough data to confirm the recession status. This is absolutely 100% opposite of the market perception. Market sees recession as a fact.
2- .50 cut is possible and market will be happy with it as the FED is timely accurate in terms of tackling the recession.
In order to get a .50 cut, I think market will make pressure on the FED by dropping stocks and indices prior to the meeting. Hence, I expect a sell off until the FED where NQ might go up to 18000-18245.
GL!
- #344
- Sep 16, 2024 7:39am Sep 16, 2024 7:39am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
Good week! Upcoming weekly analysis: TA analysis Weekly Chart NQ provided a full green bullish candle. However, this candle is inside the previous red bearish candle. So it's a noise one until the break of the red candle. {image} Daily Chart NQ close was bullish. We're still at LH Swing as long as price is below 19635. From TA perspective, we should see a continuation up. However, the Friday daily candle has a large wick from the top which tells us that new sellers jumped in and pushed the price down. Hence we should wait and see how today/Monday...
NQ seems going to test Friday low. Then it might test Friday high before the sell off. Will see NY 5min opening range what tells us.
- #346
- Sep 16, 2024 8:54am Sep 16, 2024 8:54am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
Here my potential Sell entry when price tests again the high of the opening range for both spots and futures (december contracts).
- #347
- Sep 16, 2024 9:00am Sep 16, 2024 9:00am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
Here my potential Sell entry when price tests again the high of the opening range for both spots and futures (december contracts). {image} {image}
- #349
- Sep 16, 2024 9:35am Sep 16, 2024 9:35am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
{quote} Taking off some after 50 points.
- #350
- Sep 16, 2024 9:46am Sep 16, 2024 9:46am
- | Joined May 2014 | Status: Trader | 1,507 Posts | Online Now
{quote} Completed with 100% profit
- #351
- Sep 16, 2024 9:46am Sep 16, 2024 9:46am
- | Joined May 2014 | Status: Trader | 1,507 Posts | Online Now
- #352
- Sep 16, 2024 9:52am Sep 16, 2024 9:52am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
{quote} now you can buy in time for the daily reversal
I'm not buying. will see the reaction at Friday low to sell it again.
- #353
- Sep 16, 2024 10:32am Sep 16, 2024 10:32am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
{quote}
- #354
- Sep 16, 2024 10:50am Sep 16, 2024 10:50am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
{quote} I sold it again. {image}
- #355
- Sep 16, 2024 11:13am Sep 16, 2024 11:13am
- | Joined May 2014 | Status: Trader | 1,507 Posts | Online Now
- #356
- Sep 16, 2024 3:27pm Sep 16, 2024 3:27pm
- Joined Jan 2016 | Status: Trader | 3,920 Posts
End of day analysis:
NQ daily candle is providing a red bearish candle that broke Friday candle but unfortunately is not closing below it (we got an inside bar). Also the close is below TL.
What does it mean?
From TA perspective, finally the daily swing LH is confirmed (the red one). So we should expect a continuation down.
Sellers have tried to push the price down in early NY session, but buyers pushed it back. This fight will continue during Asian session. My bias is with sellers having the upper hand and they should win this fight at the end.
As this candle is an inside candle, price might be attracted to test Friday high. This is possible.
If you trade Asian or London session, you may have a Sell LMT order at just below Friday high (19550) with STP 19640 and let it run to 18245-18000.
NQ daily candle is providing a red bearish candle that broke Friday candle but unfortunately is not closing below it (we got an inside bar). Also the close is below TL.
What does it mean?
From TA perspective, finally the daily swing LH is confirmed (the red one). So we should expect a continuation down.
Sellers have tried to push the price down in early NY session, but buyers pushed it back. This fight will continue during Asian session. My bias is with sellers having the upper hand and they should win this fight at the end.
As this candle is an inside candle, price might be attracted to test Friday high. This is possible.
If you trade Asian or London session, you may have a Sell LMT order at just below Friday high (19550) with STP 19640 and let it run to 18245-18000.
- #357
- Sep 17, 2024 6:41am Sep 17, 2024 6:41am
- | Joined May 2014 | Status: Trader | 1,507 Posts | Online Now
- #358
- Sep 17, 2024 7:22am Sep 17, 2024 7:22am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
End of day analysis: NQ daily candle is providing a red bearish candle that broke Friday candle but unfortunately is not closing below it (we got an inside bar). Also the close is below TL. What does it mean? From TA perspective, finally the daily swing LH is confirmed (the red one). So we should expect a continuation down. Sellers have tried to push the price down in early NY session, but buyers pushed it back. This fight will continue during Asian session. My bias is with sellers having the upper hand and they should win this fight at the end....
Indeed, price was attracted by Friday high and went there!
We've an important data in 10 min that is relevant for recession fact.
1- Undershoot/red data: NQ will drop havenly;
2- Overshoot/green: NQ will raise up to 19635; this will create a new HH for daily and it will change my bias of sell off.
3- Inline: NQ should consolidate.
- #359
- Sep 17, 2024 8:42am Sep 17, 2024 8:42am
- Joined Jan 2016 | Status: Trader | 3,920 Posts
The 5min NY opening range is bearish. Waiting for the break and retest to go short.
