Short-term bull and bear targets for NQ
I've overlaid a few fib channels with Visible Range Volume Profile and Linear Regression indicators. Bottom indicator is fast and slow RSI stacked. Fast and slow RSI are both in overbought territory. So there should be a powerful move coming, either extension or reversal. It should complete by next week, perhaps very early.
Bear Scenario: We're at the High Value Area(VAH) on volume profile, which is typically where scalpers take profit on longs and sell short. Below, there should be a lot of support in the 11.2k-11.4k range, as there's lots of confluence of: POCs, a bull channel, Linear Regression Lines(LRLs) in pink and the Regression Curve(RC) in yellow.
Bull Scenario: If price stays above and makes support on the VAH, it starts a new bull trend. On the macro bear fib channel we've seen resistance at the .382(yellow) and it crosses the 2.618 local bull fib channel around the 12.1-12.2k area. Also 3rd Standard Deviation from current bull trend median/LRL. So that area should show some resistance and be a good scalp target. Perhaps a pullback there, then another leg up to the ultimate macro bear TL around 12.5k. It's the zero(grey) on the macro bear fib channel.
Bear Scenario: We're at the High Value Area(VAH) on volume profile, which is typically where scalpers take profit on longs and sell short. Below, there should be a lot of support in the 11.2k-11.4k range, as there's lots of confluence of: POCs, a bull channel, Linear Regression Lines(LRLs) in pink and the Regression Curve(RC) in yellow.
Bull Scenario: If price stays above and makes support on the VAH, it starts a new bull trend. On the macro bear fib channel we've seen resistance at the .382(yellow) and it crosses the 2.618 local bull fib channel around the 12.1-12.2k area. Also 3rd Standard Deviation from current bull trend median/LRL. So that area should show some resistance and be a good scalp target. Perhaps a pullback there, then another leg up to the ultimate macro bear TL around 12.5k. It's the zero(grey) on the macro bear fib channel.
הערה:
Hit bull target, now might go for the bear target.
הערה:
POC 1370