Nasdaq has started the year very badly, putting in a strong bearish candle on our weekly chart. This along with the last week's pin bar and the previous candle completes an Evening Start pattern which can give as the idea of down continuation.
At this moment the price sits on confluence support given by the ascending channel's trend line and the horizontal support...
Looking to short nasdaq off the 30min POI/orderblock.
We have come up to test the high and showed strong rejection leading me to believe nas will drop.
Potential target zones are highlighted in green.
DISCLAIMER: I am not a financial advisor and nor is this financial advice. Only risk what you can afford to lose. Trading live carries risk and you may make money...
Point of Risk-Reduction: 14608
Stop-Loss: 760 pips (76 points)
Risk: 0,5% -1%
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Peace and good...
As I expected and said in my last 2 Nas100 analyzes, the index has started its correction.
At this moment the price is under both neckline support of the H&S and horizontal support, and I expect continuation to the downside
My target is 14k and rallies towards 15k at this point should be considered good opportunities for bears for their entries
NAS100 - Sell, 15m
Entry - 14770.05
Stop Loss - 14795.05 (25 pips)
Take Profit - 14660.05 (110 pips)
the bears are dominant.. finally it brokes the support 14800.. and if broke 14730.00 support my target is 14660.05
lets see what happen!
Since May Nasdaq has traded in a rising wedge formation.
Now the pattern is finally broken to the downside and the price should fall from now on.
A correction of the last 2 trading days drop is not out of the question and this can give sellers a good opportunity for short trades.
I m looking at around 15300 for my sell trades and as a target 14k support for an 1:3 R:R
trendline analysis.. we will see a short move to 15,200. it tried to break the resistance. it couldn´t. now the way is free to go to the floor (support) again and will after that try to beat the resistance
1)nice pattern trend indicates to go up
2)my ema line touching the support levels which are being marked then it automatically hits up
we expect the stock will rise up once it touches the blue line and expect it to go until the green line level.
don't buy now,trade only when you see another support level,
or buy only when you see 2 naked...
NAS100 is currently ranging between 12900-138000.
Support is around 13400.
If price drops it might be wise to set buy limits around 13400-13550.
Price may not drop at all. Price could go bullish from here. Trade what you see.
NAS100 is bullish on the bigger time frames.