NAS100 repetition of patterns. What is it trying to tell us?
NAS100 repetition of patterns. What is it trying to tell us?
Hello traders,
let's examine NAS100 and see what it is trying to tell us.
Back in May we saw that after it created an inverse head and shoulders kind of correction NAS100 roared from there. Again it looks like the same thing is being printed right now. I am not sure if we are going to see an inverse head and shoulders but what I am pretty sure of is the correction is getting to its completion and whatever correction it is, soon we shall see NAS100 roaring, either up or down.
In my previous analysis and discussion I have mentioned of this correction.
These are few things I will examine to take opportunity of the strong coming moves on NAS100.
A close below 11000 will mean that the recent low (head) will be broken and that means the inverse head and shoulders will no more be valid. That will signal bearish continuation and attract more selling pressure.
A close above 11750 will mean that the inverse head and shoulders is coming into play and the neckline will be violated. That will signal bullish reversal and attract buyers in the market.
Whatever the case may be, it is great to keep on the watch as the market is preparing for big moves.
If you enjoy reading my ideas please be kind to leave a like. If you have any question feel free to ask in the comment section below.
Hello traders,
let's examine NAS100 and see what it is trying to tell us.
Back in May we saw that after it created an inverse head and shoulders kind of correction NAS100 roared from there. Again it looks like the same thing is being printed right now. I am not sure if we are going to see an inverse head and shoulders but what I am pretty sure of is the correction is getting to its completion and whatever correction it is, soon we shall see NAS100 roaring, either up or down.
In my previous analysis and discussion I have mentioned of this correction.
These are few things I will examine to take opportunity of the strong coming moves on NAS100.
A close below 11000 will mean that the recent low (head) will be broken and that means the inverse head and shoulders will no more be valid. That will signal bearish continuation and attract more selling pressure.
A close above 11750 will mean that the inverse head and shoulders is coming into play and the neckline will be violated. That will signal bullish reversal and attract buyers in the market.
Whatever the case may be, it is great to keep on the watch as the market is preparing for big moves.
If you enjoy reading my ideas please be kind to leave a like. If you have any question feel free to ask in the comment section below.
