Nasdaq (NQZ2024) - Conditions You Want To Avoid
For the swing traders out there with patience to wait before entering, i salute you!
Market conditions are torturous at the moment making it challenging to dictate where the next daily draw on liquidity will be.
Only those who scalp and utilise the 15,5,1 min timeframes will be able to get a better understanding for what the market is doing and what signatures are being left.
With the dollar index printing risk off conditions, is it normal for Nasdaq to still be trading at a premium?
Is there a lag?
For how long?
What will break first: NQ, ES or YM?
These are some of the questions I ask myself when faced with conditions like this.
I want to see short term, relative equal lows swept @ $19,818
Market conditions are torturous at the moment making it challenging to dictate where the next daily draw on liquidity will be.
Only those who scalp and utilise the 15,5,1 min timeframes will be able to get a better understanding for what the market is doing and what signatures are being left.
With the dollar index printing risk off conditions, is it normal for Nasdaq to still be trading at a premium?
Is there a lag?
For how long?
What will break first: NQ, ES or YM?
These are some of the questions I ask myself when faced with conditions like this.
I want to see short term, relative equal lows swept @ $19,818
Nota
Daily relative equal lows are cooking at the moment but with yesterdays daily candle closing above the previous days high, this indicates the potential for a continued draw into a premium, attacking the daily fair value gap (that still has not seen bullish rebalancing yet).
Something to lookout for if dollar fails to book risk off conditions
Nota
Similar to ES, recent highs has been taken out but unlike ES, NQ is not trading at all time highs.
There is a divergence with the index pairs and trading high leverage in conditions like this is very risky
Nota
We have been diddling inside of the weekly sellside imbalance, buyside inefficiency. Sentiment is bullish as we have 5 consecutive bullish weekly candles meaning it's easier to execute a long and place a stop below equal lows.
Smart money goes against the grain and $19,529 - $19,600 could be realised sooner rather than later
Nota
Weekly Close
Nota
Weekly Close
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