Micro Mini NQ Chart Review / Fibonacci Extensions; Thanksgiving Holiday Schedule & Support and Resistance Levels 11.24.2021 - Support & Resistance Levels

Support & Resistance Levels

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Micro Mini NQ Chart Review / Fibonacci Extensions; Thanksgiving Holiday Schedule & Support and Resistance Levels 11.24.2021

Dear Futures Trader,

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An exercise in Fibonacci extensions….

As the NQ started moving lower today ( I actually prefer the MNQ as it causes less stomach ache when moves against me….), I was looking for a target profit on a short position a client of mine had.
I draw FIB extension for yesterday sell off move and applied it to the high on the bounce made early this morning….Today it turned out out to be an excellent tool (click for LARGER IMAGE)….gave me targets, possible trailing stops, possible re-entry and more ( always easier looking back after the fact)….Of course there are many times where this will NOT work but you may want to take a look at Fibonacci extensions as another tool in your arsenal and just Fibonacci retracement….
Micro Nasdaq #MNQ 15 Minute Chart
Short Trading week ahead with Thanksgiving Holiday this week.
See trading schedule below, be aware of the different reports, what is the market focusing on and the different closing times for the different markets between tomorrow and Friday/Sunday evening.
CME Globex Thanksgiving Holiday Futures Schedule 2021

Good Trading

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Futures Trading Levels

11-24-2021

Futures Support and Resistance Levels 11.23.2021

 


Economic Reports, source: 

https://bettertrader.co/ 

 

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

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