DLavrov
Short

NASDAQ Trading Idea

FX:NAS100   NASDAQ 100 Index
We saw a good down movement. Price broke MA50 and now it moves lower. Short trades, which had to be opened based on Bearish Divergence and Double Top reversal pattern, give good profit. So, what's next? I think we have to look at price action near MA100. It will be good reversal zone and after bouncing price we'll see movement in the same direction as the main trend. We'll have good entry levels based on daily and hourly charts with targets near 4800. If price breaks MA100, we'll have to search entry levels for short trades with profit targets near 4200 level.
Crypto Premium Signals and Education: https://goo.gl/g3E3L9

The 1st cryptoexchange with a hybrid architecture: https://goo.gl/kNV6HT
Buy & Sell 20 most popular cryptocurrency: https://goo.gl/sybc5t

Recommended Forex Broker: https://goo.gl/dsiQN8
Very nice work. I looked at QQQ. I see an upside reversal on the one hour chart at $113.68 (NDX 4656), confirmed at $114.84 (NDX 4707). The two hour chart has not turned positive, yet, but the indicators I use are bottoming, prior to an upswing. During the down draft from your double top no sell Fractals formed on the daily NDX or QQQ. This would suggest a resumption of the up trend. CHOP has not left the shaded area, so we seem to be in a trading range. Don.
Reply
DLavrov TOP 649bruno
Good day Don! Thanks for interesting comment! I also think that we'll see up trend. The main question is, where price reverses and starts rising? I think it can be MA100.
Reply
649bruno DLavrov
What I like to do is place a MA envelope on the daily chart (55 and 89), then I use the parabolic SAR to see if reversals happen at strong pivot points. I also use the red conversion line of the Ichimoku Cloud for support/ resistance, as well as the baseline, and the top of the cloud. If the border on the cloud is red, the trend (if any) is weaker, if the border is green the trend is stronger. If CHOP is still in the shaded area, then the aforementioned indicators do not work as well. If CHOP is under the shaded area, then a trend is most likely in effect (up or down, depending on buy/ sell Fractals and the direction of the alligator). Don.
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out