Good morning, Traders!
The long-term direction for the Nasdaq 100 (NQ) is up, and now the short-term direction has turned positive. The market has broken the counter trendline and entered the buy zone.
Before you jump in and try to trade the NQ, you need to know more about entering the market on a counter trendline break. Check out this video I made to get the full rundown!
Now that the daily timeframe shows the NQ moving into the buy zone, we’ll want to turn to the one-hour timeframe to find opportunities to buy the market as it moves upward.
Let’s take a look at the full timeframe analysis to learn more:Daily Timeframe Analysis
The market has clearly made a positive turn after the recent selloff. We see the market pushing through the counter trendline and remaining positive on the other side (the diagonal grey line).
This is a good sign that the short-term direction of the NQ has turned up. That will give us plenty of opportunities to buy the market as it continues its trend.DAILY TIMEFRAME
The daily timeframe shows that the NQ is still in an overall upward trend
The NQ one-hour timeframe now shows positive movement
The NQ has bounced off support and has pushed through the counter trendline
The NQ daily timeframe has pushed through the counter trendline (diagonal grey line) and turned positive
To learn more about how to spot market trading patterns, check out my free resource on the subject before you jump into the NQ.
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One-Hour Timeframe Analysis
We’ll use the one-hour timeframe analysis to find opportunities to buy the market at a low price within the buy zone. We could see a +6,000 tick movement with the current trend!
This is how we make money with futures trading. We establish the market’s long-term direction and then analyze the short-term to look for chances to execute our buy-in strategy.
Read more on long-term and short-term trading here before you do anything else with this information!
We’ll want to watch the one-hour timeframe and prepare our entry strategy for the NQ as it rallies.
The Bottom Line
There’s plenty of opportunity with the NQ now that the short-term direction has turned positive. That means it’s time to make money with this trade!
We’ll watch the hourly timeframe and looks for buying opportunities in the buy zone as the market continues on its way to a new high price.
The short-term direction for the NQ is now up as the market pushed past the counter trendline
Now that you know that the NQ is ready to trade, are you ready to take advantage of the situation? Check out my resources to become a serious futures trader who makes actual money in the market. It’s not as complicated as it seems if you follow my strategy!
Keep On Trading,
Mindset Advantage: Breathe
If you’re not breathing, you’re not focused. If you’re not focused, you can’t see the market. Opportunities slide by in an instant. Hazards reveal themselves only when it’s too late.
You need to breathe. Breathing exercises have proven to reduce stress and increase focus.
Sure, you’re already breathing if you read this. But when you trade… you need a breathing regimen. Whatever it is: Through your nose, out your mouth counting to 10 or 100. Find a method and routine that works for you.
You’ll find balance, clarity and focus when you trade. Your heart rate will come down and you’ll just feel better.