MNQ Market Analysis: I’m Waiting on the A+ Buy Setup
Looking at this 15-minute MNQ chart, I’m not seeing an inverse head and shoulders. What I’m focused on is the A+ buy setup developing around Monday’s low.
Follow this trade on tradingview here:
https://www.tradingview.com/chart/MNQ1!/JUGOvejI-MNQ-A-Buy-Setup/
Price came down into that 29,475 to 29,525 area, got close to Monday’s low, and buyers gave us a strong reaction. Now price is pulling back after that first move up.
For me, this is where patience matters.
I’m not trying to chase MNQ while it’s sitting in the middle. I’d rather let price come back into the area I already marked and see if buyers are still willing to defend it.
The Area I’m Watching
The main demand zone for me is between 29,475 and 29,525.
If price pulls back into that area and gives me bullish confirmation, then I’ll start looking for the move higher. I want to see buyers actually step in. I’m not buying the zone just because price touched it.
The first area price needs to work back above is around 29,650 to 29,675. Once that happens, I’ll be watching 29,750 next.
If the momentum stays strong, the bigger target area is around 29,950 to 30,000, with Monday’s high sitting at 30,051.75.
My MNQ Trading Plan
I’m waiting for price to pull back into the 29,475–29,525 demand zone.
From there, I want to see some type of bullish reaction and confirmation that buyers are still in control.
My upside levels are:
- 29,650–29,675
- 29,750
- 29,950–30,000
- 30,051.75 Monday high
A clean break below Monday’s low at 29,387.25 takes me off the buy idea.
That doesn’t mean price has to turn around the second it reaches my area. I’m going to let the chart show me what it wants to do.
I don’t need to catch every move. I just need price to come into my area, give me the setup, and then I’ll make my decision.
This is how we Break The Cycle!
