NQ Overview

The NQ 1-hour chart depicts a clear trading range between the key resistance at 16,085 and the current key support at 15,940, with a prevailing bullish sentiment within this range. Below the key support, a previously tested demand zone ranging from 15,930 to 15,890 exists. Shorting into this demand zone carries high risk, requiring a loss of the key support level at 15,830 to trigger a substantial pullback.

My trading plan involves exploring short scalping opportunities at the upper range boundary, with conservative targets of 5-10 points, given the elevated risk associated with shorting. Additionally, I plan to consider long positions at key support and demand levels, contingent on the continuation of demand and support signals.

It's noteworthy that NQ is potentially forming a bullish flag pattern with support at 15,940, characterized by lower highs forming into support, suggesting a possible breakout. The question of how long NQ can sustain its ascent before a pullback is a valid one. However, it's essential not to let speculative scenarios influence your bias and instead focus on trading based on observed price action and chart analysis, which currently supports a bullish sentiment.
nasdaqNQNQ1NASDAQ 100 E-MINI FUTURESnq100nq_fnqfuturesTrend Analysis

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