Yesterday's daily closed as a doji. The level that matters is 29,391, the strong support drawn on Sunday for the whole week, and price is trying to break it. Two spots above are marked as potential lows price could run back to: yesterday's low and Friday's opening candle.
The one hour tells the overnight story: NQ opened strong, ran up, consolidated for most of the session at 29,531, broke higher around 8 PM, met a hard rejection at 29,635, and came all the way back down to 29,391. On the five minute the shape is a bear flag, and price has opened below 29,391.
This is trading education, not a signal or a promise.
The plan
Two ways it plays. Price runs back up into 29,391, gets rejected, and comes down harder toward a low of 29,327. Or price breaks back above 29,391 and through the trend line, which clears the way to at least retest 29,494. Both branches were on the chart before the 8:15 print.
In the video
- 0:00Wednesday open: down 150 plus, ADP at 8:15, bearish read
- 0:19The daily: yesterday's doji and Sunday's 29,391 support
- 0:41Two potential lows: yesterday's low and Friday's opening candle
- 1:04The one hour: consolidation at 29,531, the 29,635 rejection, back to 29,391
- 1:50The next 14 minutes: closing above or below 29,391
- 2:03The five minute: the bear flag under 29,391
- 2:45The plan: rejection to 29,327, or reclaim and retest 29,494
- 3:04Questions go to ciycapital.com
Short clips from this prep
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Trading education only. Not financial advice, not a signal, and no promise of any result. Full disclaimer.