LupaCapital

Nasdaq waiting - Key level

FX:NAS100   NASDAQ 100 Index
8000 barrier on Nasdaq

BULLISH SCENARIO
If the price manages to break completely the Key level @8000 & trade above it, bullish scenario will be confirmed.
To enter a buy trade we’ll then need confirmation on multiple time frames M5, M15, or H1 (i.e Breakout and Retest of the KeyLevel.

BEARISH SCENARIO
If price fails completely to break Key Level @8000 (meaning if the price trades below @8000. xx ) we’ll then wait for confluences like Rejections/Pinbars to sell in lower timeframes.

We are staying Neutral at this moment until more price action takes place.