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sman579
May 8, 2020 6:36 PM

NAS100USD 2:30 PM Trend Analysis Long

US Nas 100OANDA

Description

On the 15 minute timeframe there is a head & shoulders pattern forming. Due to the market closing in a few hours and the weekend approaching I would not enter a buy just yet as there are no other confirmations saying we will be bullish throughout until market opens Sunday night. But if I were to place an entry it would be at the top of the longest wick. Because this is an index it is heavily affected by news and overall economy/market outlook which is why I am bit hesitant on placing a buy just yet will see how market opens up during NY session on Monday to see how it opened up and ended up playing out.
Comments
sman579
Analysis ended up being spot on! The move happened a little earlier than I expected though.
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