NQ long opportunity Above 19331 we have a great long opportunity to balance out previous impulse move to the downside
NQ1! trade ideas
NQ Long (NDX, QQQ)NQ is showing the first signs of recovery from its recent decline. The overall decline and first day of recovery is structurally similar to the last pullback in April. Price has pushed through the bottom BB and is starting to bounce back inside. RSI has turned up on the daily after being pushed below the lower threshold which has only happened 3 times this year and price has bounced each time. Given that the latest PCE was on target, rate cuts appear to be within sight. For the period between now and when the first rate cut actually occurs, I think NQ will rally to the previously developing POC around 20,000.
The 20,000 level is also supported by a massive open interest for QQQ 496 calls (image linked below) which roughly works out to the 20k NQ level. The call wall should act as a progressively stronger magnet since MMs will buy the underlying to hedge their exposure. It will also act as a major resistance which is why my final scale out is a range to be adjusted as the trade progresses.
Risks
There is a lot of uncertainty at the moment, so these assumptions are based on macro data meeting forecasts and the remaining MAG7 earnings being neutral to favorable. If the remaining MAGs miss on earnings, then I expect a drop to around 18,500.
QQQ Open Interest
drive.google.com
Nasdaq trade into early ny Im just improving, I dont any intention more than just look at my self into this markets
NQ1 & SP1 W BLACKSWANNNNNN!!!!!!! GG USA & DOLARCME_MINI:ES1! TVC:DXY CME_MINI:NQ1!
This is my own opinion, for better or worse. God knows. From what I see, Nasdaq and S&P 500 are facing a very serious collapse. Keep this in mind if you want to open a big short position. You can see an example of a black swan pattern and my concept intersecting on the chart. If you ask me, the problem is significant, and the end of the dollar has come maybe ww3.
July 29, 2024 - More Upside in the Short TermVery weak selling volume today since opening. To me it's a "Buy the Dip" moment even though I am a long term short.
Aiming for 19824 level, or 3% more from current level within a week. After that, not sure what's about to happen. Let us see!
NQ short to Sell-Side Liquidity levelNQ pushed below the weekly opening level. This is an indication of us heading lower to a greater Sell-Side Liquidity level. I am targeting 19,104.00 Liquidity.
Mag 7 Earnings and Fed PlaybookE-mini S&P (September) / E-mini NQ (September)
S&P, last week’s close: Settled at 5499.00, up 57.75 on Friday and down 54.75 on the week
NQ, last week’s close: Settled at 19,174.50, up 182.25 on Friday and down 538.50 on the week
We are embarking on one of the most pivotal weeks of the year. Earnings announcements from the largest companies surround the Federal Reserve’s policy decision Wednesday afternoon. There is only a 4.1% probability the Federal Reserve will cut rates at this meeting, but the committee is expected to telegraph a September rate cut. In fact, the CME Group’s FedWatch Tool is pricing in a September cut with 100% certainty. As for earnings, according to The Transcript there are 171 companies in the S&P 500 reporting this week. Furthermore, four out of the top five or four out of the top six (if you combine GOOG and GOOGL). Bill Baruch joined the CNBC Halftime Report on Thursday, where he reiterated his confidence in strong big tech earnings that will help alleviate waning confidence and reinvigorate its outperformance.
E-mini S&P and E-mini NQ futures again tested a critical area of major three-star resistance at 5528.75-5533.25 and 19,356-19,390 this morning. These pockets of resistance are the first in a wave of thick overhead supply the indices must chew through in order to recoup the July 23rd close, when GOOG and TSLA reported. The July 23rd settlement aligns to create rare major four-star resistance. To the downside, price action associated with a choppy Thursday and Friday trade helps build out supports, most importantly that which aligns with Friday’s weekly settlement; while holding above here, we see the trade most constructive in attempting higher prices.
Bias: Neutral/Bullish
Resistance: 5528.75-5533.25***, 5542.75***, 5551.50-5553.75**, 5572.75-5576.75***, 5599.25-5611****
Pivot: 5522.25
Support: 5508.50-5509.25**, 5499-5501.75***, 5478.50-5482***, 5470-5472.50**, 5448.25-5453.25***, 5439-5441***, 5432.50**, 5391.25-5398.25***, 5366.50-5370.50****
NQ (September)
Resistance: 19,356-19,390***, 19,496-19,501**, 19,654-19,686***, 19,728-19,751**, 19,809-19,828**, 19,925-19,933****
Pivot: 19,250
Support: 19,159-19,174***, 19,104**, 19,040-19,060**, 18,945-18,992****, 18,883**, 18,727***, 18,645-18,675****, 18,482-18,500***
Micro Bitcoin (August)
Last week’s close: Settled at 68,775, up 3,385 on Friday and 530 on the week
Bias: Bullish/Neutral
Resistance: 71,125***
Pivot: 69,090
Support: 68,775***, 65,390***
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Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
NASDAQ**NASDAQ:**
This week's forecast is for the price to fall to the zone between 18462.75 and 18204.50, coinciding with the value of a lost pivot at 18326.00.
20240726 NQI anticipate more upside during AMS and possible reversal into the downside at the end of the day. DXY reversal to the upside is crucial for this scenario.
NQ Power Range Report with FIB Ext - 7/29/2024 SessionCME_MINI:NQU2024
- PR High: 19242.25
- PR Low: 19167.75
- NZ Spread: 166.75
No key scheduled economic events
Daily print showing potential reversal long
Evening Stats (As of 12:25 AM 7/29)
- Weekend Gap: N/A
- Session Gap 7/24: -0.32% (open > 19946)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 336.61
- Volume: 37K
- Open Int: 248K
- Trend Grade: Bull
- From BA ATH: -7.9% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 18675
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
NQ longNQ 4HR RSI oversold
Confluence to the upside on all indicators
Bullish divergence
Targeting TP 1if the entry level holds
NQ Forming the right shoulder NQ forming a beautiful right shoulder. Soon we'll have a dead cat bounce
NQ - Sitting On My HandsWeekly candle opened briefly in a discount, minor manipulation occurred to the upside before NQ sold off into the weekly order block located at 19,115 (28th May 24 weekly candle). ES and NQ have similar displacement to the downside for the past two weeks so i will be studying the correlation going into next week.
Array to take note of is 19,224 - 19,115
NASDAQ FUTURES Stock Chart Fibonacci Analysis 072824Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 184/61.80%
Chart time frame : C
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the Support
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Friday was choppy for NQ! This is how I traded it!Order Block entry on the 15 second chart was the best model I seen within that choppy price action for NQ on Friday. A tight 12 point stop with a 95 point profit target. Here is what I seen and how I traded it.
