trading the nasdaq and dax
Interesting that despite the drama, 'fair value' has not shifted much in the last three #nq_F sessions
higher timeframe analysis from the nasdaq
we closed above the 4646 resistance from 2 quarters ago sellers failed 3 times to bring it lower but the dips got bought by OTF other time frame aka institutions central banks and hedgefunds alike
retail seems to keep shorting the ath and get popped out of shorts constantly so bringingin new ath in range
one timeframe lower ont he monthly the next resitance is 4674 like big affers there and big players likey to buy em up as they need the liquidity
on the daily timeframe dips continue to get bought and we r making higher lows and higher highs
we r extended in this move but as long as retail keeps getting short we r not gonna sellof big imo until they give up
i am retail and i tried short but that is intraday where u can screw around as much as u want as long as u dont hold daily or weekly positions against the trend u r fine
This is why context is so important in trading. Although yesterday's selling was agressive, it was still within multi-day balance area