At the close of the 195-min candle at 10:15am eastern today, the futures chart that I am using to trade the direction of the NQ during the corrective move I last posted on this past Saturday broke on a closing basis, the ATR resistance level.
To me, that ATR break allows me to mark an A-Wave low in the NQ’s ABC corrective pattern I am anticipating. I have adjusted my timing and retracement charts to that new low. Here are the NQ charts from this past Saturday’s post (click here to read that entire post) …
NASDQ 100 Futures – 195 Minute Chart (from Saturday Oct 27th)
NASDQ 100 Futures – 195 Minute Chart #1
Note that I am now looking for some chop in the price action to show me that price has accepted the ATR break higher. The timing windows are approximate, but the B-Wave high is scheduled for the day of the US mid-term election (Nov 6th), The C-Wave low, bigger support for this corrective pattern is for Nov 15th around mid-day.
Cheers … Leaf_West