NAS100USD ( TRADING BELLOW TURNING LEVEL ) ( 4H )
Updated
NAS100USD
Yesterday, we reached our target of +450 pips. The current price is trading below the turning level at 19,547. As long as it remains below this level, it’s likely to continue declining towards the first support level.
TARGET LEVEL :
Time Frame : 4H
Yesterday, we reached our target of +450 pips. The current price is trading below the turning level at 19,547. As long as it remains below this level, it’s likely to continue declining towards the first support level.
- Tendency , the price is under bearish pressure , until trading below turning level at 19,547 .
- Turning Level: The price is currently trading below this level around 19,547 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
- Resistance Level (1): around 20,080 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 19,547. If the price reaches 20,080 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
- Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,538 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 20,969 .
- Support Level (1): As long as the price remains below the turning point of 19,547, it suggests a drop towards 19,115 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
- Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 18,696 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 18,315 .
- Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
- RESISTANCE LEVEL : 20,080 ,20,538 , 20,969 .
- SUPPORT LEVEL : 19,547 , 18,696 , 18,315 .
Time Frame : 4H
Trade active
as long as prices remain inside supply zone it suggest decline to reach support level (1) at 19,547 , but if the price breaks through turning level by closing 4h candle above it , it will attempt to reach resistance level (1) .
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