/NQ (Nasdaq 100 futures) has come within ¾% of my final near-term swing target of the 60m downtrend line for a quick gain of 5% in less than 2 full trading sessions, which is close enough as I have to imagine a lot of eyes are on that downtrend line. As such, I am booking profits here & reversing back to short & will add more if we happen to get one more slight thrust up to tag the downtrend line although I don’t want to risk giving back profits on the long or missing out on a nice short entry if the buyers step in early as I suspect.
Previous & updated 60-minute charts /NQ with the entry for the trade, first target being hit, & updated chart below. Note how perfectly that scenario played out with the tradable pullback off the initial tag of T1 yesterday good for an additional 2% profit on the trade, 1% on the pullback & a re-entry of the long on that initial pullback bring total gain on the trade for active traders that played it to 7%.
NQ 60m March 14th
NQ 60m March 15th
NQ 60m March 16th
5-minute chart of /NQ (confirming the reversal) and 60-minute chart of QQQ below.
NQ 5m March 16th
QQQ 60m March 16th