NQ1! Supply and Demand Zones w/Volume Profile Levels 5/7/2024
Link to chart:tradingview.com/chart/vYaceW5a/?symbol=CME_MINI:NQ1!
As noted from yesterday's post, 4HR supply above near 4/5POC held strong as resistance..
Looking for a push lower coming into 5/8. Bears target is the 5/7 VAH where the 1HR demand level sits and pivot However, with strong enough momentum a squeeze to 18144-130 looks good where pivot S1 is on the 15M TF today.
If we can maintain bullish and retrace back into the 4HR supply zone, still want to see that pop of 4/5 POC. Keeping an eye on VIX, as usually when that is going down, NQ may go up and vice versa.
As noted from yesterday's post, 4HR supply above near 4/5POC held strong as resistance..
Looking for a push lower coming into 5/8. Bears target is the 5/7 VAH where the 1HR demand level sits and pivot However, with strong enough momentum a squeeze to 18144-130 looks good where pivot S1 is on the 15M TF today.
If we can maintain bullish and retrace back into the 4HR supply zone, still want to see that pop of 4/5 POC. Keeping an eye on VIX, as usually when that is going down, NQ may go up and vice versa.
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