Looking at the 4H chart, the NAS100 is setting up for a double bottom, or W pattern, scenario. There's a possibility it could pull back to around the 19,200 area before heading up to fill the gap. Earnings and job data today and tomorrow could also play into this.
Note
Neckline has been hit. Waiting on 4H candle closure for confirmed direction.Order cancelled
Rejected the double-bottom pattern. For a minute, it looked like it was on track but then news melted the markets. On to the next one!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.