/NQ (Nasdaq 100 futures or QQQ) offers another objective long entry at support (and any slight dip below and/or recovery back above) with positive divergences continuing to build on this 60-minute time frame.
NQ 60m Jan 10th
QQQ 60-minute chart with today’s pre-market trades in white for reference.
QQQ 60m Jan 10th
I view this long bounce trade idea as a short-to-medium term swing trade, with the potential for a rally lasting several days to potentially weeks should the Q’s hold the line today. The long-term swing/trend short on QQQ remains intact until & unless QQQ takes out the Dec 16th high.
Regarding this trade, the Q’s either bounce off or just below (with a false breakdown followed by a recovery back above support & short-covering rally) or it doesn’t. Either way, a relatively tight (~1.5%) stop coupled with the fact /NQ is at support with positive divergences on the 60-minute time frame in a longer-term uptrend makes a long entry here quite objective IMO, despite the recent sell signals on the daily & weekly time frame.