Good morning, Traders!
The Nasdaq 100 E-mini futures market (NQ) is entering the buy zone and setting up to give us opportunities to enter the market! The market is now above resistance. So long as it stays that way, both the long-term and short-term directions for the NQ will remain up.
We’ll see movement toward the 16072.5 price point, our next up Fibonacci extension, if the current trend holds.
To fully appreciate this opportunity, be sure to read more about how we make money with these types of market movements when it comes to the futures market.
For now, we’ll focus on the NQ’s timeframe charts and look for buying opportunities in the buy zone. Let’s look at the current analysis to prepare ourselves for executing our entry strategy:
Daily Timeframe Analysis
The daily timeframe for the NQ reveals that the market is moving above resistance and into the buy zone (just above that top grey line). That means the short-term direction for the NQ is turning positive.
We can expect the market, if this trend holds, to turn bullish toward the next high price at 16072.5DAILY TIMEFRAME
The long-term direction is up for the NQ
The short-term direction of the market is now up for the NQ
The NQ is above resistance and headed to a higher price
Learn more about the Daily Direction Indicators here…
The NG is now moving above resistance in the daily timeframe chart, meaning the short-term direction is now up and the market is entering the buy zone
This movement in the NQ reveals how important our trendlines are when following the futures markets. Read more about the importance of getting your trendlines correct in this article I wrote!
One-Hour Timeframe Analysis
As the NQ enters the buy zone, we’ll want to focus on the one-hour timeframe in order to prepare our entry strategy for the market.
We analyze the one-hour timeframe to look for low prices in the buy zone that we can buy. And if we catch a market just as we confirm that it’s entering the buy zone, we can enter the market at a great price as it begins its upward movement to the next high price!
We’ll watch the one-hour timeframe as we prepare our entry strategy for the NQ
To better understand the differences between the long-term and short-term outlooks for a market, take a look at this free resource. You’ll need it when you plan to make your trades.The Bottom Line
The NQ is now closing above resistance and is approaching the buy zone. That means both the long-term and short-term directions for the market are up. We can expect buyers to drive the market even higher if this current trend holds.
We’ll focus on our timeframe charts, especially the one-hour timeframe, to find opportunities to buy the NQ and watch the market rise toward the 16072.5 price point.
We’ll watch the NQ as it continues to move within the buy zone
So what are you waiting for? Dump the excuses and get started now! Follow along as I reveal the crucial aspects of my trading strategy that will allow you to become a profitable futures trader!
Keep On Trading,
Mindset Advantage: Better Today
Look forward and forget the past. At least for today. Adopt the mantra: Better today than yesterday. Better tomorrow than we are today.
The journey to consistent profits is not built with a trade or a single session. We all know this… but then we proceed to hold positions longer than we should, move stops that we shouldn’t and trade outside our plan.
How about one day at a time?
Start with today. Tomorrow comes later.Traders Training Session
Understanding Trading Margin and Managing Losing Trades
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