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NQ Daily Time Frame Holding at Down Trend Line

NQ

NQ daily time frame holding at down trend line by JoshuaMartinez on TradingView.com

The NQ daily time frame is in a down trend. The market is making lower lows and lower highs.

The market just hit an up sub Fibonacci extension price 12,999.50. It is expected the market will have a bearish reaction after hitting this Fibonacci extension.

If the market can break and close below the short term up trend line, it will be a good idea to turn to the one hour time frame to look for selling ideas in the sell zone towards the daily down Fibonacci price point 9,480.75.