NQ daily chart end 21-Mar-2007

Posted on March 22nd, 2007 in Trading Journal

After watching couple of videos of ‘Short term trading with Oscar‘ and heard some good words from Phileo, I start to do my daytrade preparation from daily chart. This is just to identify support/resistance levels and have a view of potential market direction of the day.

Here is daily chart of NQ June contract. We had 3 consecutives up days. With the result of Fed meeting yesterday, bulls are having an upper hand. I am interested to see any weakness to support areas to get long.

OMNI support area is at 1806-1804 as well.

From the desk of Tradergav.com

Tags: Trading Journal

Phileo

Hi Gav,

I agree with your assessment.
The 1850-ish area might setup to be a key resistance level (as you've identified), but so far, the proven support level is 1804-1806 area.

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