Price Action Overview

MNQ has been in full throttle mode lately, climbing vertically through resistance after resistance. But Friday’s session painted a different story. Price punched into a major resistance zone near 22,980–23,040, only to be firmly rejected back toward support.

This tells us two things:

1. Buyers are still in control—but they may be tired.

2. We’re likely entering a critical zone for decision-making early next week.

Key Technical Levels

• Resistance Zone (R): 22,980–23,040
  Price wicked into this area and immediately reversed. This is our ceiling for now.

• Support Zone 1 (S1): 22,660–22,700
  Friday's pullback found buyers here. This is the line in the sand for bulls.

• Support Zone 2 (S2): 22,300–22,400
  A prior consolidation and breakout area. If things unravel, expect price to visit this next.

Trade Scenarios

Let’s explore three tactical setups for Monday:

Scenario 1: Bullish Rebound from S1

This setup assumes the trend is still intact and the recent rejection was just a healthy dip.

• Long Entry: 22,700–22,720 on bullish confirmation (e.g. bullish engulfing, higher low structure)

• Take Profits:

  • TP1: 22,880

  • TP2: 22,980

  • TP3: 23,100

• Stop Loss: 22,640

If momentum holds and price reclaims 22,760 quickly, this setup offers strong continuation potential.

Scenario 2: Bearish Breakdown Below Support

If the 22,660–22,700 zone breaks, it opens the door for a deeper correction.

• Short Entry: Below 22,640 after a clean break + retest

• Take Profits:

  • TP1: 22,480

  • TP2: 22,350

• Stop Loss: 22,720

This would suggest that the top is in (at least temporarily), and sellers are back in charge.

Scenario 3: Range-Bound Scalping

If price chops between 22,700 and 22,980, there’s room to scalp the range edges:

• Buy near 22,700, TP around 22,880–22,950, SL below 22,640

• Sell near 22,980, TP around 22,780, SL above 23,040

This strategy is best used in low-volatility sessions or during Asia/London hours.

The Bigger Picture

MNQ still leans bullish overall. But we’re at an inflection point either bulls step in and reclaim control early, or we see a deeper retracement toward the 22,300s.

Here’s the bias breakdown:

Direction ConfidenceCondition

Bullish✅ StrongAs long as 22,700 holds support

Bearish⚠️ ModerateOnly valid below 22,640

Range❌ WeakPossible in low volatility, not ideal for swing setups

Watchlist for Monday

• Opening price reaction: Does MNQ gap above 22,760 or stay suppressed? That'll shape the bias.

• Economic calendar: Any surprise data or Fed commentary could spike volatility.

• Volume profile: Low volume on bullish recovery could weaken upside conviction.

Final Thoughts

MNQ has been the trader’s paradise lately fast moves, clean structure, and tons of opportunity. But after this week’s surge, it’s time to stay sharp. Whether you’re leaning bullish continuation or preparing for a breakdown, Monday's open could set the tone for the rest of the week.

Plan the trade, respect the levels, and stay reactive.

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