I don't tell you to buy, I don't tell you to sell. I tell you to stay out of it until you se any better level to enter your desired direction. Given the daily Ichimoku setup, my desired direction in gereral and in long term is to go short at some point, if even then it will be reasonalbe to be bearish and the idea will be supported on multiple time frames.
How does it look like now? Look at the Daily MACD! That is why it has become extremely dangerous to go short now! After a choppy and really bearish move MACD crossed up! 4 Hrs time frame doesn't look bad now either. This doesn't mean price can not come under pressure being push let's say down to 3480-3500 area, I just call your attention, that the risk reward for opening or holding shorts is not good right now! What's more, putting everything together, those who love taking risk in tech sector, should think about going long with tight stop if price comes lower to 3510, and refuses to print a lower low there (means on 4 Hrs chart stays in, and later breaks out of the Kumo on the top side).
Upper resistances 3576 and most importantly 3633! If anywhere, that is the level where I would look at it again to check for any reasons to open a short. But honestly, I hate trading this index :-). I always position myself on SP500 and/or DAX. But as Nas100 was the weakest chain, we need to monitor this from time to time.
How does it look like now? Look at the Daily MACD! That is why it has become extremely dangerous to go short now! After a choppy and really bearish move MACD crossed up! 4 Hrs time frame doesn't look bad now either. This doesn't mean price can not come under pressure being push let's say down to 3480-3500 area, I just call your attention, that the risk reward for opening or holding shorts is not good right now! What's more, putting everything together, those who love taking risk in tech sector, should think about going long with tight stop if price comes lower to 3510, and refuses to print a lower low there (means on 4 Hrs chart stays in, and later breaks out of the Kumo on the top side).
Upper resistances 3576 and most importantly 3633! If anywhere, that is the level where I would look at it again to check for any reasons to open a short. But honestly, I hate trading this index :-). I always position myself on SP500 and/or DAX. But as Nas100 was the weakest chain, we need to monitor this from time to time.
