Hello everyone, NAS100 has been one of the best pairs I have traded so far. Let me breakdown a little bit further on why NAS100 still looks BEARISH.
Let's start with the D1 Chart. The trend is still down and it has failed to break the resistance level between 14700-14800 three times.
On the 4HR Timeframe, the price rejected the previous high formed on 7th Feb 15:00 at 14722.34.
If we breakdown further to 1HR Timeframe, we can see a candlestick pattern called Dark Cloud Cover which indicates more downside movement.
I have entered a small SELL position at 14688 with stop loss above previous high 14728.
I am expecting the price to come down around 14500 area followed by 14100 area before changing the trend further upwards.
Let's start with the D1 Chart. The trend is still down and it has failed to break the resistance level between 14700-14800 three times.
On the 4HR Timeframe, the price rejected the previous high formed on 7th Feb 15:00 at 14722.34.
If we breakdown further to 1HR Timeframe, we can see a candlestick pattern called Dark Cloud Cover which indicates more downside movement.
I have entered a small SELL position at 14688 with stop loss above previous high 14728.
I am expecting the price to come down around 14500 area followed by 14100 area before changing the trend further upwards.
