justatrader

NASDAQ100 CFD Analysis (Hanging man on top)

Short
FX:NAS100   NASDAQ 100 Index
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3
1. Monthly chart shows hanging man (December 2014) at an established support/resistance level.
2. Daily charts shows price trading in a rising price channel . Briefly tested past support at 4093 but failed to break above previous high.
3. Downside targeting 4093. If it fails and turns resistance, then next target is the lower support line of price channel and a break down from price channel will target 3750.

Trade plan and detailed explanation here: http://bit.ly/1A4XPiG

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