Monitoring the NASDAQ ($QQQM.ETF ): SMC Analysis on the 4H timeframe ๐๐ฏ
After rejection at the local highs ($314.12), weโre seeing an accelerated correction driven by the bearish bias of the short-term EMAs.
๐น Structure and key levels:
โข Current price: ~$292.73.
โข Demand Order Block (OB zone): Marked around $288.23. This block represents an area with significant institutional buying liquidity from previous activity.
โข Strategy: Rather than trying to โcatch a falling knife,โ the key is to wait for a reaction within the block (look for a Change of Character, or ChoCh, on lower timeframes such as 15M/5M) to confirm absorption before taking positions.
๐ก In structured trading, we donโt react emotionally to long red candles; we execute when the price tests our predefined supply/demand zones.
๐ฌ Do you think the Order Block will hold as support, or will we see a deeper liquidity sweep? Let me know. ๐
After rejection at the local highs ($314.12), weโre seeing an accelerated correction driven by the bearish bias of the short-term EMAs.
๐น Structure and key levels:
โข Current price: ~$292.73.
โข Demand Order Block (OB zone): Marked around $288.23. This block represents an area with significant institutional buying liquidity from previous activity.
โข Strategy: Rather than trying to โcatch a falling knife,โ the key is to wait for a reaction within the block (look for a Change of Character, or ChoCh, on lower timeframes such as 15M/5M) to confirm absorption before taking positions.
๐ก In structured trading, we donโt react emotionally to long red candles; we execute when the price tests our predefined supply/demand zones.
๐ฌ Do you think the Order Block will hold as support, or will we see a deeper liquidity sweep? Let me know. ๐