Price printed a nice ascending channel and and we can see that it also printed a nice double top from previous resistance zone. so more bearish momentum is still expecting which will form an impulse.
Looking at Nasdaq we can see that prince is sitting nicely on a correctional phase after market printed out a nice impulse and more bullish impulse expected to finish up the pattern of ascending wedge.
More bullish momentum expected as we can see that the market just printed a nice, impulse and now it is on a corrective phase. And we can also see that price just broke above the correction phase so more bullish momentum still expected.
Gold also took out nice sell side liquidity and after formed a nice double bottom(w fortion pattern) so am expecting tap into our recent FVG then bullish momentum.
More bullish expected after the retracement of FVG, to tap the 50% of it then move bullish. And also sell side Liquidity already taken out from bearish side.
In this trade we see a clear short term buy for reversal movement as gold from higher timeframes is bearish , and also based on cot report longs are closed and shorts opened.
I am expecting more bearish continuation to take place as us dollar is stronger. also consedering cot report we haven't retested the strong sopport zone.
update on last week technical analysis, am just showing based off what i analysed last week.
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Update for Nasdaq as I've posted another video 4 days back, so on weekly the market came to retest the neckline of W formation pattern, and also on daily we had nice confluence and we had nice impulse and correction, then price came to the confluence to retest as it is also inline with the weekly neckline.
On the top down analysis of nasdaq we can see that we have confirmation of short to go and retest the neckline which is the break of structure, and all directional timeframes are moving accordingly. and on our cot report we can see that longs are closed and only shorts are opened.
On Us30 we expecting the price to come and retest the support zone which was a broken resistance, and we still expect more bearish momentum from as cot indicate that all longs are closed and we have more shorts opened.
From our top down analysis we can see that DAX is a strong bearish as all directional timeframes confirmed that for us, and also looking into the cot report we can notice that the longs contracts are closed and only shorts are opened for our second confirmation of short.
On gold we can see that out directional timeframes are more bullish and were forming a nice head and shoulder for our continuation to the bullish side. also out cot report is showing us that we have picked up from shorts to longs with contracts differences.