The A-Low is In for the NQ Futures …

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 (from Saturday Oct 27th)

NASDQ 100 Futures – 195 Minute Chart (from Saturday Oct 27th)

Here are the updated charts for the action this week …

NASDQ 100 Futures – 195 Minute Chart #1

NASDQ 100 Futures – 195 Minute Chart #2

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

 

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