#NQ_F#NQ A large view. A clear pullback with a first stop around 950ish. A few potential scenarios are presented. A double top with lower high would be preferable for shorts, a back test of the broken wedge is for longs.
A smaller view. The price made to the bottom of the broken consolidation area. A clear bear flag. Post CPI action to watch. The default outcome of this pattern is to resume the downside. A failed bear flag is bullish.
the previous day close 13050ish acceptance/rejection to watch. may set the tone for today's day session.
monthly VWAP 13120ish.
weekly VWAP 13150ish. 120-150 is a potential resistance.
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#NQ_F#NQ Post CPI landscape. Long setup into continuation, cover at the top of the balance - multi day resistance. A new bull flag is being formed.
Scenario of double top is in play, posted earlier in the morning.
Structural breaks during the upside move keeps the buy side in control. A rejection of the previously accepted level may offer a short setup. Double top first rule.
#NQ_F#NQ A breach of the bull flag formation and downside move into yearly projected zone. At this point, a reversal is highly unlikely. We may see reactions from each level on first test.
Some time ago I posted a weekly view indicating that the wave 3 is about to end and we should expect a pullback - the wave 4 (38.2% ret).
#NQ_F#NQ Inside session so far. A narrow range. The ON session range expansion to watch, it would set a short term directional bias to tag along. The air pocket below is a good candidate to fill, but let the market show its hand first.
Market listens :) The air pocket is filled.
At this point the previous day low is a resistance. The bearish sentiment, triggered by yesterday's fake out, is intact. Buyers may attempt to change it at the opening.
Obvious highs and lows are seen by everyone... Understanding what the market does around those levels is a skill to develop.
350ish found responsive sellers pushing back to 250. Not a red flag at the moment. Usually, price gets closer to the previous day close before the opening.
previous mid retest resumed the upside continuation aiming to retest the previous week high. At this point the most immediate target is hit. 420-50 is the next weekly projected level.