Bullish Outlook this week
last week closed price closed bullish after Fed rate cut news, therefore possible draw on liquidity could be towards previous weeks high
4hr price action is bullish respecting bullish imbalances, created an area of resistance
4hr Fixed Volume profile shows the two highest volume nodes and buyers could still be in control
but we are waiting 4hr bullish close to confirm that price may want continue higher from this area
Since NQ is typically correlated with ES I will monitor both for direction confirmation and divergences and convergences
4hr price action is bullish respecting bullish imbalances, created an area of resistance
4hr Fixed Volume profile shows the two highest volume nodes and buyers could still be in control
but we are waiting 4hr bullish close to confirm that price may want continue higher from this area
Since NQ is typically correlated with ES I will monitor both for direction confirmation and divergences and convergences
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.