The NQ one hour time frame is in an up channel.
the market is making higher highs and higher lows.
There are two areas where a good buying trade
could be found. A counter trendline break bullish
near the bottom of the channel or a counter
trend line break bullish above the channel.
Entry: Counter trend line break bullish near the
bottom of the channel or above the channel.
STOP: In the sell zone.
LIMIT: If entry is the bottom of the channel. The
limit should be right before the top of the
channel.
If entry is above the channel. The limit can
be the next one hour Fibonacci extension or
monthly up Fibonacci price point 16072.25
As long as the market stays above the bottom
of the channel. It will be a good idea to turn
to the five minute time frame and to look for
tunnel trader long opportunities.
the market is making higher highs and higher lows.
There are two areas where a good buying trade
could be found. A counter trendline break bullish
near the bottom of the channel or a counter
trend line break bullish above the channel.
Entry: Counter trend line break bullish near the
bottom of the channel or above the channel.
STOP: In the sell zone.
LIMIT: If entry is the bottom of the channel. The
limit should be right before the top of the
channel.
If entry is above the channel. The limit can
be the next one hour Fibonacci extension or
monthly up Fibonacci price point 16072.25
As long as the market stays above the bottom
of the channel. It will be a good idea to turn
to the five minute time frame and to look for
tunnel trader long opportunities.
