NQ Futures - Short the pops. We're Getting Closer.
NNQ
NQ futures are retracing last week's NUKE session, which isn't too much of a surprise considering the amount of sold off. Typical weekly move is 1 price block (500 pts), and if I recall correctly, it went through 2 and some change, so it's simply recovering some losses.
Now, that said, you don't want to recover 100% of it, if you're a bear, but you do want an optimal re-entry if you closed your shorts. I think that's what they're waiting for. At least recovering one price block, before we move back to the bottom of that same price block by the end of the week or sitting mid way between it, as all eyes are on the following week, FOMC meeting.
Use the 200 EMA on the 4 hr or less, and the 50 EMA on daily and above for futures.
Individual stocks, method seems to work best utilizing the 50 EMA.
Happy Trading.
NQ futures are retracing last week's NUKE session, which isn't too much of a surprise considering the amount of sold off. Typical weekly move is 1 price block (500 pts), and if I recall correctly, it went through 2 and some change, so it's simply recovering some losses.
Now, that said, you don't want to recover 100% of it, if you're a bear, but you do want an optimal re-entry if you closed your shorts. I think that's what they're waiting for. At least recovering one price block, before we move back to the bottom of that same price block by the end of the week or sitting mid way between it, as all eyes are on the following week, FOMC meeting.
Use the 200 EMA on the 4 hr or less, and the 50 EMA on daily and above for futures.
Individual stocks, method seems to work best utilizing the 50 EMA.
Happy Trading.
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