Formation Of Certain Levels Is Key----------->Nas100
The simplicity In this charting Is just artwork. Price beforehand was slowly picking up contracts. Price at six o'clock a.m was seriously trying to push past $16,470.01. It failed the break. While doing so, contracts are being accumulated big time as higher-level longs are getting stacked upon each other. Keep In mind that the structure has been built for sixteen plus hours of time, before finally breaking down on the second leg clearing out $16,381.03 long position stop orders, nine o'clock comes, and just like that.
The structure which had taken 16+ hours to form Is now FULLY broken down within 3 hours. The significance In that to me Is so severe, hence why I am In favor of short position trades all day long!! Even on bullish Instruments such as Nas100, DJI, Spy, Bitcoin, and etc, the markets gotta correct at certain levels. With other confluences, this is truly golden.
---Next, I plan to see how price interacts with price levels of $15,741.6 through $15,673.8
Buying level at 14,939.1 ... If setups occur beforehand, then even better.
The structure which had taken 16+ hours to form Is now FULLY broken down within 3 hours. The significance In that to me Is so severe, hence why I am In favor of short position trades all day long!! Even on bullish Instruments such as Nas100, DJI, Spy, Bitcoin, and etc, the markets gotta correct at certain levels. With other confluences, this is truly golden.
---Next, I plan to see how price interacts with price levels of $15,741.6 through $15,673.8
Buying level at 14,939.1 ... If setups occur beforehand, then even better.
Comment:
Marked on my chart was a level of support at $15665.8, price bounced off of here spot on. As of now, we could see price make major moves at this zone. This level could provide us with great buy entries.
Comment:
$15538.4 could see some Interaction with price