January 13, 2020 1245a CT NQ analysis
1/13/21 1240a CT NQ analysis
I base most of my NQ trading on the 2 hour chart, using FIB arcs and the 200 ema (dark red). The white arrows designate important pivots for how the fib arcs are drawn. These 2 arcs have been in place since 1/8/21 and have not been adjusted. Notice how the .0786 arc from the 1/6 low is perfect resistance for the last 2 swing highs.
Also, note the red arrows pointing to 3 of the swing lows that tested the 200 ema. Note how the market rallied each time those were tested.
It required much work during today's volatility, but I have averaged my long NQ position down to the 12850s, looking for a test of all time highs and hopefully higher.
I base most of my NQ trading on the 2 hour chart, using FIB arcs and the 200 ema (dark red). The white arrows designate important pivots for how the fib arcs are drawn. These 2 arcs have been in place since 1/8/21 and have not been adjusted. Notice how the .0786 arc from the 1/6 low is perfect resistance for the last 2 swing highs.
Also, note the red arrows pointing to 3 of the swing lows that tested the 200 ema. Note how the market rallied each time those were tested.
It required much work during today's volatility, but I have averaged my long NQ position down to the 12850s, looking for a test of all time highs and hopefully higher.