As I mentioned in my last idea, if NAS could not break above 11960 on Monday, the bears will take over. As soon as price hit 11960 and could not hold, it was imminent the pullback will prevail.
I was slightly more bullish but sometimes a steady slower pullback is harder to predict, also harder to bounce than an abrupt bigger pullback.
If you traded my chart you will notice how the downtrend line is almost always pushing price structure down, making the older support the next resistance. Meanwhile upcoming support takes it back to resistance and vice-versa. It's been working almost perfectly and wish I had made every trade accordingly!
Unless stimulus happens pre-election, I expect NAS to retest the 11500 area for the bigger bounce. If not, then 11200 it is.
I was slightly more bullish but sometimes a steady slower pullback is harder to predict, also harder to bounce than an abrupt bigger pullback.
If you traded my chart you will notice how the downtrend line is almost always pushing price structure down, making the older support the next resistance. Meanwhile upcoming support takes it back to resistance and vice-versa. It's been working almost perfectly and wish I had made every trade accordingly!
Unless stimulus happens pre-election, I expect NAS to retest the 11500 area for the bigger bounce. If not, then 11200 it is.