Gabriellihle

LONG story SHORT!

OANDA:NAS100USD   US Nas 100
Hello fellow traders! The market has been at a very fragile state lately as it appears to be overbought. Last week was a good week for Tech companies as there was a rally that put a couple Dollars in some peoples pocket ( Elon Musk ). Currently there is fear within the market as people have planned a short however over here we know that a good trader always has two plans when it comes to trading.

Option 1 (Orange): We could see a continuation of the tech rally and bullish momentum till about 11050. That's a good 200 pip movement and should add a couple dollars to your pocket!

Option 2 (Blue): We see that the market is touching an important line meaning that it could fall. This is because fear is being injected into the market and Nas100 is at an overbought stage resulting in a price pullback. The ideal situation would be that it drops to 10650 and bounce off the support line and play around our two yellow zones to form a descending triangle and shoot up. We will need to see lower highs formed tomorrow and Tuesday for this to happen. We could also see the market bounce off at around 10700. Now this option would put even more Dollars in your pocket!

I am still a student so please take my analysis with a grain of salt.
Comment down below if you would like to give me any advice or genuinely anything to motivate me.
Message me on telegram: https://t.me/lihledaily

Comments

Keep up the good work, my son.
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