As anticipated in my previous analysis, NAS100 reacted with bearish pressure and fell from December 2021 falling trendline. Follow the link below to see my previous analysis.
Now we can expect the market to move to the downside seeing that we have a high time-frame rising channel and minor rising channel within the larger one which are considered as bearish reversals.
Here is trading suggestion for the coming week:
Wait for price to close below 13065, look for candlestick rejections and a strong bearish candle for confirmation on lower time-frame. Open short positions and first target will be 12674. At 12674 I expect the market to bounce up and I believe it will retest the 12674 level. Second positions can be taken with target at 12172.
If you have different opinion or suggestion please share in the comment section below.
If you find this idea helpful be kind to leave a like.
Follow me to stay updated on new ideas and not miss any.
Now we can expect the market to move to the downside seeing that we have a high time-frame rising channel and minor rising channel within the larger one which are considered as bearish reversals.
Here is trading suggestion for the coming week:
Wait for price to close below 13065, look for candlestick rejections and a strong bearish candle for confirmation on lower time-frame. Open short positions and first target will be 12674. At 12674 I expect the market to bounce up and I believe it will retest the 12674 level. Second positions can be taken with target at 12172.
If you have different opinion or suggestion please share in the comment section below.
If you find this idea helpful be kind to leave a like.
Follow me to stay updated on new ideas and not miss any.
