Watch out the support and resistance zones that I marked on the chart.
As the price is on the profit zone calculated from the daily chart and we are on a historical peak, there can be bigger movements without seeing clear directions in this period. Therefore strict money management is needed.
If you are late, don't entry!
Trade Idea
Broken out of the channel formation to the downside.
Bespoke resistance is located at 7872.
We have a 50% Fibonacci pullback level of 7878 from 7776 to 7980.
We look for a re-test of the upward trending resistance.
Expect trading to remain mixed and volatile.
We look to Sell at 7870
Stop: 7910
Target 1: 7760
Target 2: 7636
Trade Idea
Continued upward momentum from 7497.6 resulted in the pair posting net daily gains yesterday.
Positive overnight flows lead to an expectation of a firm open this morning.
The medium term bias is neutral.
Intraday signals are mixed.
Short term bias is mildly bullish.
Preferred trade is to buy on dips.
Stop: 7485
Target 1: 7775
Target 2: 7850
Hi traders!
S&P making very clear reversal patterns. If the support compensation, it can be lost to 20%. Yesterday a burst of downward volatility. Bad scenario for an economy, especially in emerging countries.
We will keep an eye.
Good studies!
OANDA:NAS100USD Looking at the Nas100 4Hour chart, I see the indices has finally reached the level of its resistance which is at 7722.6, it will now dip down to a level of support around 7619.6, with my final target at 7440 I am selling nas100 now
