NQ favouring shorts
Updated
If one of these two scenarios do not happen, I quit TA for good because it clearly doesn't work anymore in a post sanity, Fed controlled world.
- resistance line does holds
- a slight pop over resistance to trap bulls, then price falls in again hard
Oh and also, if today 11MAY closes up on the day, it'll be NQ's 6th day up in a row.
Although I suppose, the higher timeframe monthly channel dictates we go higher. I'd be building up a short position now and vigilantly add to it until we tap the top of this channel, if I were a big pocketed player.
- resistance line does holds
- a slight pop over resistance to trap bulls, then price falls in again hard
Oh and also, if today 11MAY closes up on the day, it'll be NQ's 6th day up in a row.
Although I suppose, the higher timeframe monthly channel dictates we go higher. I'd be building up a short position now and vigilantly add to it until we tap the top of this channel, if I were a big pocketed player.
Note
Update on NQ 4hr chart.Note
Disregard the previous post - it was the S&P chart, this is the correct one.NQ 4HR
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