The market has gone back to 11309 area before pushing back down. If price breaks this channel we can see price pushing back down to 10526 area. However if price doesn't break then we may see a break of 11309 area pushing price up further to 11497 area. It is more likely for the sell plan to work out than the buy.
Us tech 100 at daily resistance ,need to breakout and sustain above for upside move as there are bullish divergences on daily chart other wise market can drag again down side as already following downtrend channel.
Nas100: Looking at the current market conditions, price is reacting from a HTF demand.
To confirm that this demand will hold, I will be looking for further LTF confirmations and breaking of structure (HH & HL). That being said, HAPPY TRADING.
Looking at what the market presented us with last week, I see two POI's for a bearish continuation. I'll be watching this chart closely during New York to see which POI they go for. Risk Management is vital
Considering that the chart is in an overall HTF bearish state and has also not yet presented us with long setups, I'm still looking for short objectives, obviously not forgetting that on a HTF, price is consolidating inside demand. One of two things can happen and I'm going to be watching price action and will update moving forward.
Considering that the chart is in an overall HTF bearish state and has also not yet presented us with long setups, I'm still looking for short objectives, obviously not forgetting that on a HTF, price is consolidating inside demand. One of two things can happen and I'm going to be watching price action and will update moving forward.
Nasdaq Analysis
The market is currently at a very key area 11059- 10955. For the bears to continue we really need a clear break here. We can see last week this area got tested but failed to break and pushed price back up. If we do get a break of this area I expect price to push further down to 10703.
However if this area keeps strong then price can bounce up...
Us tech 100 breakout submitted major level but next candle will be decide either market trend continues further low or it was a fake out ,if green candle closing above major level than we can see upside move for short term otherwise after retesting breakout level we can see further dip in the market.
VELOCITY:USTEC almost completing AB=CD pattren at higher time frame and it is a reversal sign for us tech 100 ,so it must reverse from here other wise if breaks last low than can be sell out at retesting.
I believe the cpi news was used as a catalyst to further push the market down, now all we do is wait for a retest at the physiological level of 12000 or one of our fib levels. -Take Profit Investing
My long term perspective remains bearish but after the weekly candle closed above the 12600 area I will be looking for sort term long opportunities, if price reaches the 13600 area I will be looking for shorts.
-Take Profit Investing
Nasdaq can hold above Andrew support line.
And just break through the resistant.
My target is up to 12.600.
I assume ellitott wave 5th is done shorter than expected. now in ABC wave beginning.
Hi All,
I'm looking for a short term Long to resistance at $12870
I think we will get a bit of sideways action on Monday as Liquidity
enters the market and most likely by Tuesday morning Japan Open 10am AEST
we should have an indication of market direction.
Over the coming months I think we will see price returning to the $11000 region.
I'll keep this Idea...
Trade Idea: Selling NASDAQ
Reasoning: Lower prices expected
Entry Level: 12408
Take Profit Level: 12052
Stop Loss: 12484
Risk/Reward: 4.39:1
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