We saw a bearish move on Friday afternoon which broke the bullish trendline and retested. Price is currently in a zone. For a sell trade, I would wait for the price to break and retest. For a buy a trade I would wait for the price to break and retest the resistance zone before entering.
I see a few possible trade Idea based on where the price is currently
1. Price drops now and we wait for it to break and retest support and take it down to P
1b. Price goes back to the zone and creates a triple top and we enter a sell there.
2. Price breaks and retests the zone and we take the buy to R2
NAS100 is currently approaching a support zone.
There are a few possible trade ideas
1. A buy to the next resistance level once there
1b. A double top forms and you take the sell back down
1c. Price breaks through you wait for the retest and take the buy.
2. Price breaks the support level and retests and you take the sell to the next support.
NAS100 is currently bearish on the 1-hour timeframe. When you look at the 15-minute timeframe you will see it's approaching a strong support level and the price has rejected twice before. For a buy trade, I would wait for the market structure to turn bullish on the 15 minute and reject the support level on the 1-hour timeframe. For the sell I would wait for the...