Two scenarios for NAS100 ;
Weekly close, which will be our monthly close as well, above or below 11057.5 will indicate where the market will continue to next.
Scenario One
Weekly Candle close below 11057.5, this will leave us with a massive bearish candlestick which indicates bearish momentum.
Monthly Candlestick close below 11057.5, this will be a beautiful pin bar and further confluence with the massive weekly bearish momentum candlestick .
Break of an historically important level (which is 11057.5)
ENTRY 10950
Stop loss 11085
Take Profit 10680
Scenario Two
Weekly Candle close above 11057.5
Wait for the market to push away from this level and come back to test it and form some sort of bullish continuation pattern on the lower timeframes (1H) ( Bullish engulfing , kangaroo tail, double bottom or whichever pattern presents itself)
Look for entries on the lower timeframe.
Huge moves is to be expected this week though, trade carefully, manage risk and come out on top.
Weekly close, which will be our monthly close as well, above or below 11057.5 will indicate where the market will continue to next.
Scenario One
Weekly Candle close below 11057.5, this will leave us with a massive bearish candlestick which indicates bearish momentum.
Monthly Candlestick close below 11057.5, this will be a beautiful pin bar and further confluence with the massive weekly bearish momentum candlestick .
Break of an historically important level (which is 11057.5)
ENTRY 10950
Stop loss 11085
Take Profit 10680
Scenario Two
Weekly Candle close above 11057.5
Wait for the market to push away from this level and come back to test it and form some sort of bullish continuation pattern on the lower timeframes (1H) ( Bullish engulfing , kangaroo tail, double bottom or whichever pattern presents itself)
Look for entries on the lower timeframe.
Huge moves is to be expected this week though, trade carefully, manage risk and come out on top.