Hi TRADERS , Nas100 gave us a couple of confluences, first by forming an "M" Double Top to Forming Head & Shoulders. Now lets wait for the final confirmation a break on the support, Please use proper RM
for now we can chill and wait for price action, so for now no one can say for sure where we're heading, no prophecy in Trading, might conso;idate a bit...
Will give an update
As long as NAS100 stays below the W (Weekly Zone); there is a high-probability it will continue to trend down, however, if that zone is broken, expect a retest at the boxed areas. This is a weekly zone, so be attentive and prepared. Good luck, lets get it.
GENERAL OVERVIEW DATA
From March 02 2020 point A until December 2021 point B uptrend. From January 01 2 June 2022 retracement of Fibonacci level point C.
MONTHLY TIME FRAME
* Uptrend
* Retraces back to 0.5- 0.6 Fib level
* Bullish engulfing pattern spotted at the retracement level
*Violate the 3rd touch of this trendline.
* Closes with a bullish hammer...
MY weekly analysis on NAS 100 on a weekly chart. The price is currently at an area of confluence. Two things to take place in that area 1) price may respect the level and reject, move down as the market is still bearish or 2) the price breakout and push to the up aiming to change the current structure.
Nas100 entered our POI and showed the reversal pattern. Price dropped quite nicely, and has now retracee. Is there a second chance entry for short? Hmm.....
Entry will be based on a retest of the previous low if no fundamental outlets come into play, we have some Jobless Claims, GDP and Pending Home Sales that may bring in some volatility into the markets depending on the outcomes.
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied
