Nasdaq-Simple Intraday Strategy

News came red; it should be bad for NQ. Price is so far ranging inside the 5min OR. Nothing to trade until breakout and retest...

What I see.
I already said yesterday that the market is looking to go up. And it seems like it does. However, I believe we are estill going down to that FvG lvl for some Liquidity and, ofcourse, for a good long entry. To get another ATH.

Good day!
NQ is lastly ranging. Data will give the greenlight to either direction, up or down.
Today the most important data is ISM Services.
Good and inline data is good for NQ and vice-versa.

(Note: I won't be around this morning; so I won't be able to share any insight or chart)

ADP ended up more dis-heartening than i thought

ISM Services data came strong green and market as expected moved up.
We got a bullish day close, but inside the consolidation range.

Tomorrow, we've NFP data. Average Hourly Earnings m/m data is the most important one that measures inflation. Green data here is very bad for NQ and vice-versa.
Have a good evening!

Good day!
Data came out. Bad NFP but inline earnings.
NQ already made a new ATH. I think this will be the end. We should see a nice retrace until the FED meeting.
Looking for short position.

I took this position incase the market open with the strong sell off.

TP1 hit with 80 points.
STP moved to BE.
Edit:
TP2 hit as well.

I'll add new shorts at the yellow box if price goes there.

Left crumbs to TP3. Closed all 3 positions with a total of 550 points.
Will re-enter if price goes back to the yellow box.

Edit:
The potential buy at the yellow box is cancelled.
I'm done for the week.

Weekly Analysis!
FA Analysis:
1- We know that the FED opened the door for a rate cut in September (Next week). The FED gave priority to address Employment Mandate issue and considered the higher inflation data as one time shot.
2- Hence, the Inflation (the second FED mandate) the most relevant data this week with both PPI and CPI to validate the FED view of one time shot. Another higher inflation will destroy this narrative and the FED might revise the way forward.

The story is simple: Higher Inflation data will send NQ down and vice-versa for inline and softer inflation.

TA Analysis:
Weekly TF:

The weekly close expresses really the incertitude regarding the direction. No clear direction; both direction are open; all will depend on inflation data.
Daily TF:

The daily close was bearish. NFP data provided an inline inflation data but a very negative employment data. As mentioned, bad data data is bad for NQ and vice-versa.
From daily perspective, price might retest Friday high or just NFP low (magenta dotted line) and continue down towards TP1, TP2 and TP3 particularly if Inflation data comes strong.
H4 TF:

H4 provided a break down. Inline with daily analysis, the least resistance is that price continues down after a short retrace up.
GL Everyone!

Good day!
So far price is behaving as expected; we got a retrace to a VA to sell.

Vey strong bullish OR!
Retest of Friday and weekly high is underway.

We have a strong resistance at 23747–23761. Breaking it might just means another $ sweep.

Day is over for me for now. Today we had a whole lot of nothing to trade. The resistance got a tap back and could now act as a kind of support to bounce price up higher or get broken thru to new lows. As already said, I‘m going back in tomorrow. Untill then, good luck to everyone. And happy (non) trading.

Good morning gents, yesterday I took some pips from the red box going long

And this morning, in my country, Im waiting here something to sell. Until then just watching. Lets see who wins, bulls or bears. However, since tomorrow we have red news again... in terms of impact I mean.

Good day!
We might have another dull day until tomorrow. But the sell side has prevalence.

Undecided OR.
Most probably I'll pass today.

Thinking to sell around 23827

In a few minutes, the revision of US jobs will be released.
If the negative revision is between 500k-800k, it is expected and no impacts. Higher revision or lower revision might provide some movements.