Nathan_Black

Is Technical Analysis WITCHCRAFT by any chance?

NASDAQ:NDX   Nasdaq 100 Index
Hello my fellow traders! Today's analysis is full of technical signs. Before we start our study, if you are new around, I invite you to follow me, because I do daily analyses here, and I’m sure you’ll find something interesting! There are more content on my social media as well, so, check it there – link below.

Let’s continue from where we stopped. Yesterday we discussed about how delicate the moment for NDX was, since it just reached its trendline and did a natural pullback to the neckline of this H&S pattern. At that moment, NDX was between the bulls and the bears, but the bulls won this round.

By the way, don’t you find technical analysis awesome? Today’s candlestick closed with astonishing precision at our black line at 10,156, which is there since my first NDX analysis, on June 22! (link below)

I think we talked about everything from this perspective, so, how about the daily chart?


Ok, NDX reached its supports at the purple trendline and black line (9737), and now it is going up. Only if NDX closes under this trendline the bull trend will start to get weaker. Meanwhile, it is a bull trend – ascending tops and bottoms, above trendline and 21 ema , which is pointing upwards.

Maybe, the strength of the trend on the daily chart will bust the Head and Shoulders we saw in the hourly chart, but it is a little early to say this for sure. Only time will tell.

Recent public trades (links below):

XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%

Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!

Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume ). Like this idea if it helped.

Thank you very much.

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Comments

Thanks for sharing. The bull trend has been thrilling😀
+1 Reply
@KE_ZHANG, Hey Mr. Zhang! Thank you for the support!

I totally agree with you here!
Reply
Nathan_Black ROWLANDSDUKI
@ROWLANDSDUKI, Oh, this one is the famous Mutant Inverted H&S!
Reply
ROWLANDSDUKI Nathan_Black
@Nathan_Black, yeh buddy its crazy and nas is a crazy monster , expecting 108xx.xx range will post an update later

happy trading buddy
Reply
love it bro . check the h4 and see the inverse head and shoulders pattern :)
Reply
Waves_of_life ROWLANDSDUKI
@ROWLANDSDUKI, would be great if you can point it out, or explain h4 ? you mean the interval on 4 hours ?
+1 Reply
ROWLANDSDUKI Waves_of_life
@Waves_of_life, something like this buddy mind my chart its a little messy
Reply
ROWLANDSDUKI Waves_of_life
@Waves_of_life, its not perfect , but surprisingly the target matches the 3190 gap

sorry bro , i was on the spx chart , as for nas , it also has a inverse head and shoulders , i will draw it for you
Reply
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