Good morning, Traders!
We’ve been following the Nasdaq 100 E-mini (NQ) for the last few days now. Based on our current timeframe analysis, the NQ is in the buy zone, and we’re looking for opportunities to buy the market!
The NQ broke the counter trendline in the daily timeframe and is actively following the up Fibonacci extension in the one-hour timeframe.
We’re expecting the market to head toward the up Fibonacci within the one-hour timeframe before sliding into a short-term retracement. But until that happens, we’ll actively look for chances to execute our buy-in strategy for the NQ.
The direction for the long-term and short-term within the NQ is up as the market makes higher highs and higher lows. This is a great opportunity to buy the market at low prices within the buy zone and make money as the market continues to make positive movements!
Daily Timeframe Analysis
Within the daily timeframe, the NQ has broken the counter trendline (the short diagonal line in the middle of the chart) and is moving up within the buy zone. That means we can turn to the one-hour timeframe and actively look for opportunities to buy the market.
Remember that we look for low prices within the buy zone as the market works to fulfill the up Fibonacci extension. The daily timeframe gives us our high/low prices as we watch it move through the buy zone.
The long-term direction is up for the NQ
The short-term direction of the NQ is now up
The NQ has entered the buy zone and is making positive movement
The daily NQ has broken the counter trendline and is moving up within the buy zone
We’ll watch the daily timeframe as the market continues to move up. But don’t forget that we’ll see highs and lows along that journey because the market moves in waves. So long as the NQ stays in the buy zone, we’ll actively look for a chance to buy the market!
One-Hour Timeframe Analysis
Within the one-hour timeframe, we see that the NQ is within the up Fibonacci as it moves through the buy zone with a long trade outlook toward the 15383 price point.
We’ll continue to monitor the one-hour timeframe as the market gets closer to fulfilling the Fibonacci extension. Once that happens, we can expect a short-term retracement (temporary price drop). After that, we’ll again look for the market to rebound and likely push bullish again.
The NQ is in the buy zone within the one-hour timeframe as it moves toward the 15383 price point. We can expect a temporary price dip (retracement) once the market hits that point
Even with a potential retracement ahead, the overall short-term and long-term directions of the market remain up! That means we should continue to monitor the NQ and look for our entries and exits along the way.
The Bottom Line
The overall direction, both short-term and long-term, for the NQ is up. That means the market will work toward an overall higher price even though we’ll see ups and downs along the way.
So long as the market remains within the buy zone, we’ll actively search for opportunities to execute our buy-in strategy for the NQ.
The overall direction for the Nasdaq 100 E-mini remains up as the market moves through the buy zone.
Now that you have the setup for the NQ, it’s time that you jump on board with my futures trading strategy. There’s really no excuse. You can get started today. It’s really that simple. Don’t get left behind as the market marches on. Take the first step toward fulfilling your financial dreams!
Keep On Trading,
Mindset Advantage: Own It!
It’s not the market. It’s not your indicator. It’s you. Own it.
“Oh that one was a mistake”…. and then there’s ‘I had the settings on my indicator wrong’… or our personal favorite: “I was trying an experiment”…
Like a 7th grade English teacher, after a while you hear them all. The number one thing we look for when working with a new trader? Accountability.
Own where you’re at with your trading. Embrace the failures and the setbacks. Stare them in the face with an unflinching honesty.
Only then will you conquer and advance to consistent profitability.
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