NQ Trade Plan 6/16
Can Bulls breakout above 22000?
Nasdaq Futures Trading Plan – June 16
Market Overview
Friday’s session reinforced the prevailing bullish sentiment, with buyers once again stepping in aggressively on the dip. This trend of buying pullbacks continues to dominate the price action, supported by expectations of a soft landing, resilient tech earnings, and easing inflationary pressures.
Heading into the new week, price has gapped up overnight, with NQ retesting the 22,000 level, a key psychological and technical zone. The strength in pre-market price action signals potential for continued upside as long as key support levels hold.
This week will bring the FOMC rate decision and quad witching, but for now, the path of least resistance remains higher as long as no negative macro surprises surface.
Key Trade Scenarios
Bullish Scenario (Continuation Setup)
Pre-market structure shows a bullish continuation pattern, with the London session closing above the Asia session.
For this setup to remain valid, price must hold above 21,925.
If support holds, I will look for long entries targeting 22,111.
Watch for momentum acceleration above 22,012, particularly if buyers step in early.
Bearish Scenario (Rejection Setup)
If price fails to hold 21,925 and we see a sustained move below this level, the bullish setup is invalidated.
In this case, I’ll shift to short bias, targeting a move back toward 21,850 and potentially 21,721, where price gapped up overnight.
Key Levels and Targets
High: 22,012 if price holds above target longs → 22,065 → 22,111 → 22,177
Low: 21,925 if price holds below target shorts → 21,876 → 21,856 → 21,721
Additional Notes:
The 22,000 level is a notable psychological zone and has previously acted as resistance; a clean breakout and hold above it could open the door to new highs.
With volatility still relatively subdued, be cautious of fake-outs near key levels. Prioritize confirmation before entering trades.