Nasdaq futures (NQ) hourly chart analysis for today 08 Feb 2023 — the uptrend is still on (started in early Jan 2023).
Our Nasdaq100 Futures Trading Strategy currently is that all trades need to be on the long side. And all corrections have been suitable for buying since early Jan 2023.
12K was a key level to be tested, as mentioned in our posts in early Jan 2023, and it has been achieved and 13K was almost hit last week.
13K level is a major resistance zone, so it will take sustained buying to cross that level.
Nasdaq futures (NQ) haven’t looked back after creating the strong double bottom base on 6th Jan 2023 with closing at 11,113. We got six consecutive green days after that, which indicates the strength of the bottom made in early Jan.
The Nasdaq futures made a strong base at 10,800 and our early buy signals on the hourly charts came at 10,800 itself, for targets of 11,500 and 11,600, which were hit last week.
The setup is looking good for testing 12K level, and buying on the recent correction around 11,350 gave good gains. All these updates were also posted on Twitter in real time, to help other Traders.