Nasdaq 100 Futures (NQ) Short
Currently the price is going down and breaching through all the supports or Fibonacci levels.
1- Price is currently under a death cross (8 EMA above 21 EMA).
2- Pink trend line was broken.
3- Then, price is going down through a downwards parallel channel.
4- There is liquidity still to be met in that green rectangle.
5- 78.6% Fibonacci is coincident with the white trend line that is the ultimate support since January 2023.
6- If the white line is broken down, then price will go to lower levels and may be the start of a bear market.
7- If price rebounds at 78.6% Fibonacci, then it can go for the liquidity in the red rectangles.
In summary, 17,923 is the target #1, then we should wait for price action to determine what's the next target.
1- Price is currently under a death cross (8 EMA above 21 EMA).
2- Pink trend line was broken.
3- Then, price is going down through a downwards parallel channel.
4- There is liquidity still to be met in that green rectangle.
5- 78.6% Fibonacci is coincident with the white trend line that is the ultimate support since January 2023.
6- If the white line is broken down, then price will go to lower levels and may be the start of a bear market.
7- If price rebounds at 78.6% Fibonacci, then it can go for the liquidity in the red rectangles.
In summary, 17,923 is the target #1, then we should wait for price action to determine what's the next target.
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