NAZ may be in a zone that is attractive to some buyers, 17% off ATH's. NAZ did jump 140 points in Overnight on headlines that US to have talk/meet with Russia (in a week). Box bottom on 4HR chart is -20% from ATH and may be a technical Buy Zone. Long above 14311 and Short below. Fist move (needs to pass and retest TLX 14270) may be NAZ taking out Diag Yellow TL. KL's Upper 14348 / Lower 14211 / TLX's 14717, 14587, 14482, 14270, 14137, 14101
4HR 1Q Chart
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Rejected at TLX 14270, Drop/Pop developing. Play opposite direction trades off KL's & TLX's.
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Long above 14211, todays hit at low may be double bottom set up. Initial bounce off TLX 14137.
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NAZ pass and retest of 14211 should target 14311.
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14211 rejected, now look for NAZ to hit/bounce off 14137. No hold/bounce next target lower is 14101.
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50 RB, Notice how NAZ is going from TLX to TLX. 14137 support should send it back up to 14270 after a 14211 pass.
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2nd rejection at 14211
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TLX 14137 Held, should see run to 14211
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13975 is long term support, may big bounce off until EOD.
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14087 is next target and above should take NAZ back up.
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Long above 14020.
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DB on 13975, use as stop.
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Options expiration is moving things. To 13975 1st.
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13975 and above stay Long.
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Now long above 14050
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TLX's are Targets on these Longs, get out after Hit. Stepping away. May see sell off here.
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Today's movement looks like a bottoming day. The yellow long term TL may be the bottom.
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Most reliable trades lately have been TLX as targets and reverse trades. In between the TLX's, do not trade in middle or wait for the NAZ to approach a TLX and get support or rejected.
Trade closed manually
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Use CM_EMA Trend Bars indicator on 30M, settings is 6. When short collar changes or vice versa, great indicator for direction change.
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IDS 20 make horizontal TL's after 2 peaks/valleys, usful with SL's
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Another helpful indicator are the TL drawn off the Peaks/Valleys
@MAZing how is 14087 calculated? in the morning post this wasn't any of the TLX. Just trying to learn..Is it because it was the morning's first bottom?