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NQ futures breached previous daily high while ES still trading inside previous day's range. Based on current information, NQ is stronger than ES. So you would be trading bullish signals on NQ and bearish signals on ES? Is that is how you are using this information?
thanks
Can you help answer these questions from other members on NexusFi?
Basically you are right but I will add some notes:
1. If I short I will short YM, since YM is the weakest .
2.Also TF looks strongest, I will be cautious on trading TF .Usually I need one day TF close strong to confirm it has become a strong index.
3. I said "if I short". But in reality I will never short during a strong up trend like current bull market.
4. Choosing a right index will help you with better risk-reward, but to profit you still need a lot of more works to do.
RUT is up 2 point right now. It is the strongest index today,along with DOW and SPX to turn stronger.
I am long TF now and possibly hold into tomorrow.
From intraday chart, RUT kept breaking intraday high and brought DOW and SPX trending higher with it, with NDX stay flat.
So longing TF would be a better choice than NQ now from risk-reward point.
I am a newbie and learning trendlines/chart patterns. I did a analysis of NQ100 futures for coming days/weeks/months. Please refer to the screenshot. This is only for learning and observation purpose.
Please disregard, If I posted chart with wrong view and it doesn't make any sense.
Like a student, I will take everyone suggestion/guidance.