Thursday, May 10, 2012

Trade Guideline For Friday (NQ)

A very narrow-range trading day on Thursday, the third consecutive consolidation day. It is a set-up for a wide-range trending day, up or down depending on the breakout direction.

Key Resistance = 2635
Key Support: = 2605

A sustained break out of the range is likely to trigger a fast trending move in the direction of the break.

  • Upside breakout target = 2660 - 2680
  • Downside breakout target = 2570 - 2580