Good morning, Traders!
Both the long-term and short-term directions for the Nasdaq futures market (NQ) are up! The daily timeframe is pushing bullish with an uptrend toward the 14895.5 price point. In the one-hour timeframe, the market is still making higher highs and higher lows as buyers remain in control.
I’m still really happy with how the NQ is currently trading. The bullish rally is solid, and there’s plenty of opportunities to make money in this market.
But before we jump in and set up our trade, you need to read more about how to recognize market trading patterns to understand how it works!
The time is right to trade the NQ, so let’s dive in and get started with our timeframe analysis:Daily Timeframe Analysis
The NQ daily timeframe continues to push bullish as it heads for the 14895.5 price point (top blue line). The market is solidly in the buy zone and is showing signs of holding onto its positive direction. There’s plenty of ticks left until the market hits its next point of resistance.
Take a moment and review my article on how tick movements make us money. It’s crucial to a winning trading strategy!DAILY TIMEFRAME
The direction within the daily timeframe is up
The current direction for the one-hour timeframe is up
The market U-turned off support and is in a bullish rally
Learn more about the Daily Direction Indicators here…
The NQ daily timeframe is still positive as the market continues its bullish rally to 14895.5 (top blue line)
As the daily timeframe confirms the overall positive direction of the NQ, we’ll want to turn to our one-hour timeframe and look for opportunities to buy into the market:
I’m going to stop right here for a moment and talk about something my colleague Ross Givens is doing because it’s extremely important!
Insider stock purchases and ownership are solid ways to measure the true value of a company. Even seasoned traders like me can only know things about a company based on outside information available to everyone.
That’s why seeing insiders buying stock in their own companies can be a sign that something big is about to happen.
And that’s what Ross tracks with his Insider Edge strategy. That’s why I’m sharing this unique opportunity with you. As a dedicated reader of Daily Direction, you’ll get a ton of value from Ross and his picks.
Ross will give a live presentation on Tuesday, which will include some fresh stock recommendations that will serve as the foundation for the beginning of Insider Edge. I urge you to attend the presentation. There’s so much you can learn from Ross.
Sign up for Ross’s live webinar here. And be sure to let him know Josh sent you!
One-Hour Timeframe Analysis
The NQ is making higher highs and higher lows within the one-hour timeframe. That means buyers are in control, and the market is rallying to a new high price!
The price is still fulfilling the up Fibonacci extension and will continue to tick away until it hits that level of resistance. Until that happens, we have room to buy at low prices within the buy zone and watch the market continue to rise.
The NQ one-hour timeframe is still bullish as it makes higher highs and higher lows. Now is the time to watch for low prices in the buy zone so we can enter the NQ and make money!
We’ll keep watching the one-hour timeframe as we execute our buy-in strategy. There’s plenty of room for profit so long as the buyers remain in control of the market!The Bottom Line
Things are looking up for the NQ right now as the market continues its current bullish push to the next Fibonacci extension of 14895.5. So long as buyers are in the driver’s seat, we’ll see the market inch its way up to that new high price.
So long as buyers remain in control, we’ll see the NQ continue its bullish rally to a new high price
While all of this info on the NQ is great, you can’t really do anything with it unless you know how to get in the market. Are you still trying to figure out how to master futures markets? I’m here to help! Don’t get frustrated trying to do this all alone. Let me show you how to build success as a futures trader today. You’ll be ready to make money with the next big trading opportunity!
Keep On Trading,
Mindset Advantage: Forget About It
Move on with your trading and leave the past where it belongs…. in the past.
It’s a recurring theme. It happens over and over again. You can feel it the second it comes on. The market is going to do ‘it’ – whatever ‘it’ is – again… to you and your account. The flashbacks start pouring in. It’s impossible not to relive it all.
In an instant, a calm Monday morning is now haunted by a trading session ages ago. Just when you thought you would never, ever, ever find yourself in that situation again.
It’s time to move on. Sure, mistakes repeat themselves, but the key to getting past errors and losses of the past is first to embrace them. Own them. Take them as they are. After all they’re yours.Traders Training Session
Understanding Futures Contract Sizes and Tick Values
