MNQ Sell

15 thg 2, 2024

MNQ1!

1. 5 Minute chart was below 5x5 DMA.

2. Price was approaching COP levels (Fibonacci Expansion Levels)

3. The Orange level is a D-Level (Confluence Level) of a 38.2 & 61.8% Retracement.
- This happens in the direction of a trend. In this case, the Hourly uptrend had a level where the 38.2 & 61.8 both met at the same price which is an indication to me that there's a higher probability of price reacting or reversing at that price level.

4. 30 minute was below the 25x5 DMA and MacD confirming the downtrend.