I know you can't read all my comments, so not saying that. Just saying if you read my previous comments anytime we trade below 15605, particularly after going above it and than below it again I am bearish the market. Above 15605, just leaning slightly bearish (also depends on context though and above 15987.25 that's when I'll likely be looking more bullish. Today I'd think NQ 15128-15154.00 area, but like I said few days ago we already hit NQ monthly support and bounce once, not expecting it to hold as well today but we'll see
@ NL inflection point... off the quick right shoulder build out... 215 handle measured move indicated should we break NL.
We have broken the neckline slightly also. 2 ways to play----get short or wait for pullback with fresh downside momentum and then get short. As always, the key to successful trading is Prudent Risk Management. Cut losses short, let winners ride to maturity.
The pressure / trend is most definitely down short/medium term, but a move above 4607 could definitely trigger some buying today. Not much follow through to the down yet. I got 6 points in my pocket and I'm going to keep them, so patiently watching on the sidelines for now. NQ diverging is a concern for the short side.
Triangulating. Dips are bought and pops are sold. I don't have conviction to enter short for a day trade here (84,50), so probably sitting this one out. I will be more interested in a long above 4600 if we get there today. Good luck all.
You measured left shoulder NL base to head.... I went right shoulder baseline to head... the more conservative of the two.... but yes, either would be viable target or somewhere in between!
I'd be a little surprised if NQ doesn't touch at least 15154.50 today(monthly support that we hit previously) That's still my expectation. As always though obviously nothing is 100%, but generally with this setup we would work our way down there eventually. Not easy action for me to trade though, am with you on that, finding it difficult to find a short and stay with it.