TheSignalyst

US100 - Potential Bearish Reversal Soon!

CURRENCYCOM:US100   NASDAQ 100
Hello everyone, if you like the idea, do not forget to support with a like and follow.

US100 is sitting around its All-Time-High and round number 14k so we will be looking for sell setups on lower timeframes.

on H4: US100 is forming a channel in red but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)

Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)

Until the sell is activated, US100 would be overall bullish and can still trade higher.

and of course, as it approaches the lower blue trendline from Daily, we will be looking for trend-following buy setups.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

I'm bullish unless it fails to break the ATH zone. There are lots of US fundamentals due to be released this week so it could go either way tbh, regardless of technical analysis. I'm just gonna have to watch it carefully and enter with low lotsizes to minimise risk...
+2 Reply
@darbova right Darbova, we would be overall bullish as you mentioned, unless price follows my scenario then the momentum would be shifted from bullish to bearish (short term)
+1 Reply
Great education.
+1 Reply
@MaggieLuzp thank you so much
Reply
Nice chart, keep up the good work. 😊
+1 Reply
@financialflagship thanks Alex for the support mate
Reply
As us30/DJI has gone down significantly, is it quite likely it could cause NASDAQ/us100/ustech as well as the sp500 to go straight down as well as there's bearish divergence across the indices on 4hr+ time frames.
(NASDAQ going straight down and not re-testing that 13900ish level)

The gold/lumber ratio has also been changing where the price of lumber has declined showing less appetite for risk in the market, with inflation at 5% with minimal wage growth.
Markets can take time to realised ect.
+1 Reply
@ITSLITPHAM thanks for sharing your thoughts here mate
Reply
Thanks Richard! Which time horizon being expected for this setup?
+1 Reply
TheSignalyst FinTecker
@FinTecker, we can't really know. we wait and react.
+1 Reply