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Larger view. Market repeatedly knocking at 14800 level.
If it will slice through this support zone we will find ourselves at 14300. Cumulative Delta values are strictly negative , Vaunted Squeeze Momentum Indicator is beating previous lows . Chances are there will be another strong attempt to slice through 14800-14700 and push even lower. DAILY
Weekly even more conclusive. Market in clear defined very strong downward channel unless it breaks out of it, which will be very strong bullish signal,
I would play only shorts.
The key words in those resource was " possible outcome" with the emphasis on possible. I would condense it to two outcomes: UP or DOWN. But hey if it works for you so much the better. I usually see channels and use them as part of my decision process. Though as was rightly mentioned market will tell us where it goes and being small fish it will be smart to follow and not theorize too much. Having said that if current gap will remain till open then we are in bearish gap-n-go territory with a bit of yesterday LONGs trapped and we'd better tighten our belts for a good ride down.
If I was Mr. MarketMaker I would take out yesterday Shorts that became quite confident and retest 14800 area before swinging down with the vengeance and take out hopeful Longs in the process.
First of all, afterwards it is always easy. I saw it like i saw it in this moment and i do not blame myself
Given the fact that the NQ is very slippy and volatile on the tick i plan for the future to be less influenced by the tick and make more use of MILESTONES
It is a 24h market and we were already down a good amount
It is a two way auction, contra auctions are normal
In a moving market a good milestone would have been the 24 hour vwap
Thats picture perfect Wyckoff market consolidation. I think Mr. Wyckoff theories are a bit more sound and tested by time in comparison to this shadow dude.
