3d • Technical Discussion
📈 MNQ Market Recap: September 24th – Patterns Repeating in Action
Hey everybody,
Let’s dive into a technical look at the MNQ market (micro-NASDAQ) for Wednesday, September 24th. Today’s market structure was strikingly similar to yesterday’s, showing how patterns often repeat.
⏰ Pre-Market Action
- Pre-market London High and Asia London Low were visible.
- Green line: market low | Yellow line: London open.
From the start:
- Market initially fell, then rose.
- At London open, price retraced to market open, then pushed to new highs before falling again.
📊 Early Market Structure
- Attempts to move higher failed; brief consolidation followed.
- 20-period moving average caught up, then price dropped further.
- Lower highs formed progressively:
- Weakness led to a new low at 8:10, ~16 points from the prior high.
- Market entered a clear downtrend with selling pressure.
🔁 Comparing Yesterday and Today
One-minute charts show near-identical patterns:
- Fall from the open → consolidation → failed attempt higher → progressive lower highs → further drop
Key takeaway:
- Patterns repeat across days.
- Prior day’s price action often influences today’s market.
- Aligning higher timeframes clarifies possible vs probable moves.
⚡ Key Observations
- Consolidation acts as a trend within a range.
- Today’s consolidation was shorter than yesterday’s (~1 hour).
- Early session bias: slightly downward.
- Double-top at the 20-period moving average → series of lower highs.
🧮 Measured Moves
- Yesterday: 950 → 780 (~160–170 points)
- Today: ~166–178 points
- Overlap: ~93% ✅
Trades aligned with patterns:
- Price retested 200-period moving average, failed, broke below, then fell.
- Today mirrored this with a final failed attempt off the London/Asia low (~8:10) → downside move.
💡 Takeaways
- Watch for repeating daily patterns to anticipate setups.
- Prior days’ action gives context for today.
- Market behavior may not always be volatile; sometimes it’s structured and uniform.
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📈 MNQ Market Recap: September 24th – Patterns Repeating in Action
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