NQ: Bears Can Trigger A Short Setup

  • CastAwayTrader
  • May 6, 2024
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#NQ-mini $NQ #trading setup #trading futures

We can count that move up in NQ as a complete looking -w-x-y- up corrective bounce that has approached the Red Box:

NQ-mini 240 min chart

If bears manage to defend the Red Box we can expect another large leg down in a subwave C down.

Let’s revie a big picture on the daily chart below:

NQ Daily chart

The next leg down in a wave C should be able to break under the support of the blue trend line. Keep watching the key 18,000 level. If bears push NQ back under that level 18,000 they would trigger a failed breakout short setup.

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