2021/12/16 16:06 PM – NASDAQ 100 MINI FUT – H4 – FACING AN IMPORTANT RESISTANCE ! UPDATE

NQ1 100 MINI FUT – H4 ! by Ironman8848 on TradingView.com

Following yesterday’s FED meeting, we saw a nice upside move which is clearly recognizable by the long white candle which went up and through all resistances levels ( TS KS , Mid Bollinger Band and clouds) in this 4 hours time frame.

As a result, the NQ1 reached an intraday high of 16’431.50 and is now showing some lack of momentum.

Indeed, looking back we can see successive former top around those levels.

Therefore, ongoing candle closing level will be important, as a failure to clearly move and hold sustainably above 16’450 would probably trigger another selling wave.

On the downside, the former cluster resistance, currently around 16’100 should be the first significant support zone to look at very carefully in that 4 hours time frame.

This area, also coincides with the clouds support zone and a failure to hold above the clouds would also add further pressure to the downside.

Below the clouds, next support to watch at is the new short term uptrend support line (in green) which is currently around 15’790.

Watch shorter intraday time frames which will help you to validate or invalidate implications on both sides.

Last but not least, the Head and Shoulders mentioned in previous analysis is still alive…and not dead yet !

Ironman8848 & Jean-Pierre Burki

UPDATE :

As expected and mentioned this morning the failure to breakout the 16’450 area triggered a renewal selling pressure.
Currently facing the top of the H4 clouds support area and very close to the cluster support zone around 16’100 ahead of the clouds bottom @ 16’000.
Watch price action on H1, M30, M15 and M5 to get more clues about validation or invalidation of further downside.

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All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

Toutes les opinions exprimées dans mes analyses sont les miennes et ne représentent pas les opinions d’une entité, quelle qu’elle soit, avec laquelle j’ai été, je suis ou je serai affilié. Toute action que vous entreprenez sur la base des informations contenues dans ces analyses est strictement à vos propres risques et ne doit pas être considérée comme un conseil. L’auteur n’assume aucune responsabilité pour toute erreur ou omission dans le contenu de ses analyses. Les informations contenues sont fournies “en l’état”, sans garantie d’exhaustivité, d’exactitude, d’utilité ou d’opportunité et sans aucune garantie de quelque nature que ce soit, expresse ou implicite.