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NQ1! - Be Prepared!

NQ1! - Be Prepared!

Hello Trading Family,

We can see that NQ1! is currently trading inside these two brown trendlines forming a channel.

Here are the two strong zones where I will be looking for high probability setups:
I call them War Zones, (highlighted in Orange circles)

Zone 1: Lower Orange Circle (12500)

This highlighted orange circle is a strong area to look for buy setups as it is the intersection of a support zone and the lower brown trendline acting as non-horizontal support. (trend-following setup)

Unless NQ1! breaks the green zone downward aggressively, then the next major support would be around 10500.0 (lower blue zone)

Zone 2: Upper Orange Circle (14000)

This highlighted orange circle is a strong area to look for sell setups as it is the intersection of the round number 14k and a supply zone .

As per my trading style/plan:
I will be waiting for NQ1! to approach the lower orange circle (green zone) to look for reversal buy setups on lower timeframes (like a double bottom , trendline break , and so on...)

and we can see that it is forming a falling channel in red on lower timeframes. so for example, I will be waiting for a third swing to form around the upper red trendline to consider it valid and then buy on this last swing high break upward.

Always follow your trading plan regarding entry, risk management, and trade management.

Good Luck

All Strategies Are Good; If Managed Properly!
~Rich

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