NQ1!, Ignore the Noise, Trade Price Action

It is said that every chart looks great hindsight. The support and resistance levels on this chart were defined awhile ago. You can see how the price moves between those areas. Whatever the news coming via the wires the price respects the market structure and behaves accordingly. On Friday, the price broke the support decisively which led to a liquidation move to the next support. Oversold condition plus location found responsive buyers. The support is intact until broken, so we can expect the buyers to be active on Monday.

8/24/2019