NAS100 POTENTIAL SHORT OPPORTUNITY (MID TERM) 2-5 WEEKS
Alright! I couldn't help myself! Had to do one more post for ya guys! Let's dive right in!
OK so what I'm looking at here is a potential short opportunity on the NAS100 index. Keep in mind if you are trading this on a FX broker it moves a lot of points so adjust risk accordingly. But great potential opportunity here!
Price has been rising straight for a few weeks now and is overdue for a pullback. So when looking at price we can see that on the higher TF the 1D (daily) and above that price is defiantly overbought with price on the lower TF showing us that the momentum of the buyers is slowing down. OK so first thing we want to see is price come into our level, we ONLY TRADE from significant levels, for myself that is supply and demand levels. Second, we want to see the shift in momentum I'm talking about, what I mean is even if the buyers come in hot or strong, I want to see the seller do the same if I or we are looking to sell. OR if the buyer comes in with slow, weak momentum and the seller comes in strong then it will probably reverse quicker. Why do we want to see this? It shows us dominance from the buyer or seller and helps us gauge if our level or opportunity we have is giving us high probability or not!
So keep an eye out on this pair at that supply it is coming into and watch for short opportunities!
Cheers!
OK so what I'm looking at here is a potential short opportunity on the NAS100 index. Keep in mind if you are trading this on a FX broker it moves a lot of points so adjust risk accordingly. But great potential opportunity here!
Price has been rising straight for a few weeks now and is overdue for a pullback. So when looking at price we can see that on the higher TF the 1D (daily) and above that price is defiantly overbought with price on the lower TF showing us that the momentum of the buyers is slowing down. OK so first thing we want to see is price come into our level, we ONLY TRADE from significant levels, for myself that is supply and demand levels. Second, we want to see the shift in momentum I'm talking about, what I mean is even if the buyers come in hot or strong, I want to see the seller do the same if I or we are looking to sell. OR if the buyer comes in with slow, weak momentum and the seller comes in strong then it will probably reverse quicker. Why do we want to see this? It shows us dominance from the buyer or seller and helps us gauge if our level or opportunity we have is giving us high probability or not!
So keep an eye out on this pair at that supply it is coming into and watch for short opportunities!
Cheers!
Comment:
NAS100 moving closer to zone. Will probably play at this level a little before potential reaction
Comment:
Price still working to come into the level
Comment:
Price tapping into that supply level. Keep an eye out
Order cancelled:
Buyers too strong broke to upside through level...may be opportunities to short down the line but not at moment...cheers!