Hi friends sharing weekly Chart of Nasdaq 100 as we can see according to this provided chart that after a breakout of horizontal trendline it is trading above that resistance with bullish RSI divergences with lower highs so i find out some price action based ideas sharing below.
Idea 1- it will take a resistance near about 14880 levels and came down for a breakout retest and again will go up to recent swing highs or more.
Idea 2- In the process of idea 1 it will not get a bounce from breakout retest zone and break that support and will go down more to the next
mentioned support 2.
Idea 3- none of above mentioned idea will work and it will breach the resistance 1 directly and can go to resistance 2 or resistance 3.
RSI indicating that it is having bullish strength although it is tilting now from the top so in this case the probability of breakout retest increases the likelihood.
One can check and act accordingly to their setups and Timeframes.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.
Regards-: Amit (AR)
Idea 1- it will take a resistance near about 14880 levels and came down for a breakout retest and again will go up to recent swing highs or more.
Idea 2- In the process of idea 1 it will not get a bounce from breakout retest zone and break that support and will go down more to the next
mentioned support 2.
Idea 3- none of above mentioned idea will work and it will breach the resistance 1 directly and can go to resistance 2 or resistance 3.
RSI indicating that it is having bullish strength although it is tilting now from the top so in this case the probability of breakout retest increases the likelihood.
One can check and act accordingly to their setups and Timeframes.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.
Regards-: Amit (AR)
Comment:
As a trader nothing never been happier when a scrip marching towards resistance or support just like this
Comment:
Try to go up from mentioned resistance, let's wait for a breakout or pullback.
will use smaller time frame now for quick actions.
will use smaller time frame now for quick actions.
Comment:
nice lpr
Comment:
Reached to resistance 2 trying to close above let's wait for it, Nice runup so far
Comment:
Once again stucked on resistance 2 later it was broken so until it breaks again we will not get further momentum
Comment:
Got a first weekly close above resistance two since publishing this idea, hope we can see very soon it will touch to resistance three
