Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the NAS100, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
Since November 2021, this market has been following a strong bearish momentum, moving inside a descending channel.
At the beginning of October, it bounced on the level around 11000, trying to breaking it a couple times, forming at the same time a expanding structure, which it can be both continuation and reversal pattern, depending on where it breaks.
Eventually, recently, the market sharply broke the structure to the upside, getting bullish momentum.
Considering the top of the dynamic trendline close to the current price, we would not enter and hold any position, because the possibility to reverse are still quite high!
When, where and why would we step into the market?
Before planning a long position on this market, we will be waiting for a full breakout of the HTF structure, looking if there will be further bullish price action to confirm our overall bias.
As you can see on the chart, we won’t be looking for a little LTF correction, but more a deeper and complex structure within structure to correct the current strong movement.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Top Down Technical Analysis:
Since November 2021, this market has been following a strong bearish momentum, moving inside a descending channel.
At the beginning of October, it bounced on the level around 11000, trying to breaking it a couple times, forming at the same time a expanding structure, which it can be both continuation and reversal pattern, depending on where it breaks.
Eventually, recently, the market sharply broke the structure to the upside, getting bullish momentum.
Considering the top of the dynamic trendline close to the current price, we would not enter and hold any position, because the possibility to reverse are still quite high!
When, where and why would we step into the market?
Before planning a long position on this market, we will be waiting for a full breakout of the HTF structure, looking if there will be further bullish price action to confirm our overall bias.
As you can see on the chart, we won’t be looking for a little LTF correction, but more a deeper and complex structure within structure to correct the current strong movement.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
