Trade ideas
Am i bias towards sideways to Bullish view?When all are biased towards the bearish side why I can able to see a sideways to bullish angle?. Here are the reasons.
1. 11700 is the 50% of Fib retracement of the last bull run (Covid bull run). Now it is hanging over there for the last two weeks but could not able to break it.
2. Why i can able to see a W pattern in the daily chart. Of course, it is not formed yet, but if short covering will happen n Friday or Monday due to global cues, then all shorter will run for cover and that is good enough to break 12600?.
3. I can able to see the continuous 7 red candles in the weekly chart, i could not able to see that many red candles during the 2008 crisis or during the covid crisis also. So why can't the market take a pause here/ reversal?.
I am a new learner and this is for my educational purpose only. Not to take any trades. Happy to learn if someone answers my question.
I am looking to go long of 11700 with huge risk, I will keep my SL below 11650. Let's see what will happens?.
Sunday Prep 10/10 - $NQ/$QQQ Need to make Higher Low & Clear 15KThis chart obviously looks very similar to the $ES. We briefly breached the 14400 level but quickly reclaimed it. But since then the push back into the underside of the 20d have shown strong resistance. And is it really any surprise? You have the quarterly/annual/monthly stacked pivots all in that same area as well as the psychological 15k level. What I would like to see is a pullback, put in higher lows and then a push back above 15k. If we can do that, then I would look to see if there’s some follow through on Tech names. If we start to lose the recent lows, then I will start to look for lower highs and possibly some short setups. If we blast through 15k without any real from the bears then I would be looking at the monthly pivot at 15370 and quarterly at 15445 as areas where I would expect to act as near-term resistance. Above that we have this 15500s level, from where the selling started.
Sunday Prep 9/26 - $NQ / $QQQ Same Thoughts As $SPYEven though you will see me using trendlines in my charts, I always like to have a disclaimer that for me, trendlines are merely rough guides. I’m not delusional enough to completely ignore all the prior trendlines that could have been drawn that all would have been broken a dozen times over, only to be replaced by a new trendline when it made it convenient for whatever narrative you were trying to see. That being said, we have definitely pulled back to a pretty interesting area in relation to the trendline we have now created.
What’s more important to me is that after the pullback to these levels, we got a nice little reversal setup with the higher lows on the daily chart (highlighted by the yellow circles) that were then able to push back over 15163.25. To me, that makes last week’s lows pretty significant.
Same thoughts go for the Nasdaq as went for the S&P. If we can reclaim last week’s highs, do we then push back to ATHs? Or do we start to roll back over and possibly begin creating a higher timeframe lower high on the weekly chart?
Bulls will want to defend the 50d/quarterly pivot area. If they can’t hold there, the next spot I would watch for them to show up at would be the 15k round psychological level which is also the monthly pivot/annual pivot area.
Bears will be looking to defend the 20d. Above that, I would definitely expect to see them do battle up around that 15550 area which is where the recent correction began from.






















