Kumowizard
Short

Yesterday was a bull trap in the wedge

FX:NAS100   NASDAQ 100 index of US listed shares
147 4 9
How easy it was to pump it up on an illiquid market yesterday! :-)
As soon as liquidity is back, the smart distribution resumes. -> please see prev. post below.
It looks a bit scary now guys right? :-) In fact nothing major has happened yet.

Well, by now more and more people realise yesterday price action was a bull trap within the bearish wedge .

- haDelta is down on both time frames.
- Daily MACD cross gives signal for a swing short
- 4H confirms increasing bearish power: haOscillator is below zero, price washed through 4860-4870 first key support and now testing the very important 4840 below the Kumo.

I am more confident that we'll see deterioration towards 4750, but still prefer to sell spikes.

This is very tricky market now, but the last thing you want here is holding any piece of long position.

SELL.
Great job mate! How deep do you think it`ll go?

Thanks for the advice!
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I dont have a crystal ball, so no idea :-). First support was 4805, second is 4750, that next is ard 4625
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MaxRohrig Kumowizard
Nice! Thanks a lot!
Reply
as u see 4750-4765 key level at Kijun has held for now. 4840 retest to broken wedge is possible. Then I still think we'll see more drop later

Go on weekly chart. There you will see the Heikin-Ashi signal properly.

The question is not what to do here, the question is when and how much to sell?
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