Trade Guideline for Friday

NQ has been staying inside a narrow trading range 2325-2340 for the last 2 trading days. A successful break above the range high in the morning implies the morning trend is likely Up.

Likewise, a successful break below lower trading range 2325 implies the trend is likely down on Friday morning.

Staying inside the range implies more choppy ranging market condition.

Trading Guideline For Thursday (NQ)

2330 is Support/Resistance for Thursday.

• Bullish above, targeting 2345-2350
• Bearish below, targeting 2310-2320

Trade Guideline For Wednesday (Nasdaq NQ)

Daily and 60-minute trend are UP. 

• Staying above 2312, the trend would likely continue to go up on Wednesday to the following resistances levels. Resistances are 2330, then if that breaks, the next one above is 2345. 
• If the opening price action is below 2312, then the above analysis is invalidated. If so, I will be looking for the morning trend to be down

Trade Guideline for Tuesday (NQ)

On Monday, after spending most of the day inside a trading range, NQ broke down below range low end of day Monday. If the decline is going to continue to tuesday, any rally should stay below FT Pivot 2305.50 and prior trading range low 2309-2312 zone.

I will also use 2309-2313 as key Line-in-the-Sand for Tuesday.

• Looking for Monday's end of day decline to continue as long as any rally can stay below LIS
• Above the LIS, I will be looking for a bullish day.

Trade Guideline For Monday (Nasdaq NQ)

2320 = Key Line-in-the-Sand. 

• Above 2320 I will be looking for NQ to trend up in the morning targeting next resistance level at 2345. It is also a  potential reversal zone
• Below 2320 I will be looking for NQ to trend down in the morning targeting next support level at 22955. It is also a  potential reversal zone

***Note: Not expecting reversal at the above support and resistance zone if market internals are extreme bearish/bullish.

Trade Guideline for Friday (NQ)

The day after a one directional trending market tends to be a choppy ranging and narrow range type of day. So unless price action indicates otherwise, I will be looking for a ranging market on Friday.

Trade Guideline for Thursday (NQ)

2263 - 2265 is my balance Point for Thursday, bullish above, bearish below.

• Above  is bullish targeting 2280, and if that break, next resistance and target is 2300
• Below is bearish, first target is Floor Trader's Pivot 2257.25, below that supports are 2245 then 2235.

Trade Guideline for Wednesday (NQ)

On Wednesday I am looking for the market (NQ) to either rally above Monday's high or decline below Monday's low.

• I will use 2266.25 as key resistance, bullish above targeting a move up to 2280, then if that break, a further rally up to 2295-2300, 
• 2245-2250 as key support, with a break below targeting a decline down to 2235, then if that breaks a further decline down to 2220.

Trade Guideline for Tuesday (NQ)

As indicated in my trade guideline for Monday, the 60-minute chart pullback mode was triggered with a large gap-up open above key resistance level of 2250 on Monday. 

• However, after an initial burst of short-covering rally in the morning, NQ then spent the rest of Monday's afternoon  consolidating the morning uptrend.

For Tuesday, 2245-2250 will be my key Line-in-the-Sand Zone for establishing bias. 

• Staying above that zone implies the next upleg should rocket up to 2290, and if that breaks, the next higher target is 2300-2305.
• Breaking below the 2245-2250 zone implies a potential decline down to 2335, then if that breaks, a further decline down to 2215-2220 area.

Note: Always watch out for Whipsaw market conditions

Trade Guideline For Monday (Nasdaq NQ)

Daily chart currently showing that the market is in a very strong downtrend mode, ready to tank if key support levels are breached. The 60-minute chart, although in a very strong downtrend, is showing a potential pullback coming, and it could come Monday morning, 

I will be using 2220 as key Line-in-the-Sand for NQ on Monday for determining the bull-bear bias, bullish above, bearish below

• Key resistance is 2235, above it I target a move up to 2250, and expecting it to hold unless Market Internals are extreme bullish. 
• Key Support level is 2215, below that level I will be looking for NQ to trend down to 2195 - 2200 area. If the decline is accompanied by extreme bearish  Market Internals, I will be looking for NQ to tank down to 2285 area, and if that is breached, will look for capitulation decline down to 2150-2160 area.
• A Flash-Crash will target 2050 --  possible if Yen Carry Trade gets unwind