Good morning, Traders!
It’s now or never for the Nasdaq 100 e-mini futures market (NQ). The market is in an uptrend as it’s broken into the buy zone and hit a known level of U-turn. But if the buyers are going to take over the market and push it into a bullish rally, now is the time. If not, we need to prepare for the NQ to hit bearish territory.
Remember that the market trades in waves. So while the NQ is in an overall positive trend, we can expect the market to rise and fall as it works its way toward overall higher prices.
But if buyers back off and sellers take control, we could see the market fall into a bearish push. That means a selloff and lower prices.
Of course, that doesn’t mean that’s the end for the NQ. We can wait for the bearish push, if it happens, to settle down and rebound back bullish. When that happens, we’ll have lower prices to buy!
Ready to see what’s in store for the NQ today? Let’s get started:
Daily Timeframe Analysis
When looking at the daily timeframe for the NQ, we can see that the market is hovering just above that top trend line. If the market sinks any lower (below that line), we can expect the market to enter bearish territory (we could be looking at a sell-off). But if the market can stay above that, there’s a chance that buyers will control the market and push it higher.
The long-term direction is up for the NQ
The short-term direction of the NQ is currently up
It’s now or never for the NQ. We’re waiting to see the buyers take control
Learn more about the Daily Direction Indicators here…
The market will either stay above the trendline or drop into sell-off territory
This is a scenario that reveals how important it is to have properly drawn trendlines in your charts. Without them, you run the risk of getting inaccurate data and chart analyses that don’t do anything to help you make wise trading decisions!
One-Hour Timeframe Analysis
The one-hour timeframe for the NQ is at a critical point. Right now, the market is in the process of breaking the counter trendline. If the market can close above that line, there’s a good chance it will enter a bullish push. That means we could see a decent rally to a new high price!
The one-hour timeframe has hit a critical point. If we continue to break the counter trendline, we could see a bullish rally
But if the market can’t push through the counter trendline, we could see a price slump as the market enters bearish territory. If that happens, we’re more likely to see a sell-off within the NQ.
The Bottom Line
Our timeframe charts will be critical in helping us see if buyers or sellers take control of the NQ. They allow us to see the patterns and trend shifts that happen across the market. Without them, it’d be challenging to see these changes.
Our timeframe charts will be critical in helping us see if buyers are sellers take over the NQ
And that’s why following my futures trading strategy can benefit you immensely. You’ll see when it’s profitable to enter a market and when it’s wise to stay away. Now’s the time to get on board if you’re ready to make smart trading decisions today. There’s no reason to keep putting it off!
Keep On Trading,
Mindset Advantage: Find Balance
When it comes to your mindset for trading, you’ll find that your ability to cope with the markets, bad trades, good trades – whatever – has more to do with how you spend your time outside of trading. More specifically, how much balance you have.
In fact, of your total state of readiness 10% may have to do with charts and price levels. The other 90% has to do with how rested you are. How focused you are. How happy you are.
Find a balance that works for you and begin the path towards happy trading.
Traders Training Session
Understanding Futures Contract Sizes and Tick Values
Stay tuned for my next edition of Josh’s Daily Direction.
And if you know someone who’d love to make this a part of their morning routine, send them over to https://joshsdailydirection.
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