NAS taking gas?
NQ futures have painted a fairly steady regression trend channel since Hallowe'en 2023.
It is comforting to consider that 4 out of 5 channel breakouts fail. With this in mind you'd You'd have done especially well buying all the channel bottoms over the past 4 months.
On the other hand, unless NQ can push above 18200 and stay there, the next channel bottom could be the 1 out of 5. Even a small pullback would be very profitable.
Enterprising traders could consider shorting the yellow box with a tight SL and setting a TP at 500 points or more below the trend channel.
It is comforting to consider that 4 out of 5 channel breakouts fail. With this in mind you'd You'd have done especially well buying all the channel bottoms over the past 4 months.
On the other hand, unless NQ can push above 18200 and stay there, the next channel bottom could be the 1 out of 5. Even a small pullback would be very profitable.
Enterprising traders could consider shorting the yellow box with a tight SL and setting a TP at 500 points or more below the trend channel.
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