I see MNQ taking the very near low of MARCH 10th. After, I see it bullish most of the day on Monday back up to or near 19,735. Then a pullback to close Monday near 19,500.
NQ has pulled back and taken Feb. Monthly low as well as grabbing some additional liquidity from Nov. last year. I shorted NQ on Thursday for 473 points to my anticipated level of support. I nearly caught the bottom of the market, followed by an aggressive back move up to equilibrium to end the week. Going forward, with the high impact news coming up in the first...
I'm looking at the potential for a pullback to grab some liquidity below. Likely a pullback around London Session. Then I am expecting 8:30am news to be very bullish, regardless of the news outcome, I expect it to fuel the aggressive move higher.
NQ pushed below the weekly opening level. This is an indication of us heading lower to a greater Sell-Side Liquidity level. I am targeting 19,104.00 Liquidity.
Order Block entry on the 15 second chart was the best model I seen within that choppy price action for NQ on Friday. A tight 12 point stop with a 95 point profit target. Here is what I seen and how I traded it.
NQ has sold off heavily recently. I see it making a very small move higher into the inefficiency (box), likely during Asia or early London session. From there I will be looking for short opportunities down to the internal low taking out 1 or more Sell-Side Liquidity levels. If we fully inverse that inefficiency then I will be looking for a long setup.
