Price, Price Spread, Lagged Price/Volume Spread, and Binary Price/Volume Indicator
Price and Total Volume With 50-period Moving Volume Average
Fibonacci Price Scale With Targets
Sorry for the tardiness of the release. I ran into technical problems earlier this morning.
We blew up the highs expected for the week yesterday, and it appears that MNQM23 could be ready to break out of that channel above 13048, but there is so much insane news on many fronts that it would be hard to bet on anything currently. That is why I look at the charts for an estimation of what might happen.
If MNQM23 can remain above 12740.75, odds would favor a continued rally beyond 12767.75 to 12891 and 13048. If not, because of the rather strong rally yesterday, if sellers become active, MNQM23 could fall back to 12491.75 (VWAP support) or perhaps even price structure support near 12411. If selling cascaded for some reason, 12314 or even 12190.50 could happen early next week. Given the stress regional banks are having and the fear associated with those events, it could happen today, but I think traders could just settle affairs, square accounts, and think about things over the weekend to determine how they will react next.
Picked up 44 NQ points long per contract yesterday on the measured breakout move and I went on to other business. Once again, if I see nothing, I will do nothing, but if I do trade, the trades will meet the breakout criteria based on volume, market momentum, and Fibonacci patterns and targets. Stops will be moved to breakeven to protect equity and targets taken as they arrive on the DOM system I use.
More will come this weekend. Have a wonderful day trading, a fantastic Friday, and a peaceful weekend!
Today’s Economic Data Courtesy of Trading Economics dot com. Be sure to refresh the date at the top left.
What I’m learning about trend days is that they cannot be predicted per se. they materialize from unexpected news or events. Those gonzo moves, not measured moves I mean. While measured may be anticipated at higher probability. Gonzo is found at low probabilities.