Top 5 Weekly Trade Ideas #5 - NQ Inverse H&S?
We have potential for a big day tomorrow up or down with CPI being released before open. Right now it looks like NQ is forming an inverse H&S. We'll see if it plays out over night. Could be getting ready for a bullish reaction to CPI. If so, I'll look for longs, specifically on a hold of this neckline and if it can reclaim the highs from the last session near 21,227.
To the downside we have trend line support and the low from last session. If we get momentum down I'd be targeting 20,950-20,900 to exit shorts.
To the downside we have trend line support and the low from last session. If we get momentum down I'd be targeting 20,950-20,900 to exit shorts.
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