NAS100 Swing Trade Long Loading
Good Day all, CURRENCYCOM:US100
Currently we have finally broken the middle Support trendline and we are so far just a few days from the market mover cycle finishing again as previously mentioned. We did reach our previous major swing very fast leading to consolidation for few days. I am currently seeing more short in the form of either straight down to bottom trendline or an ABCDE correction wave meaning a retest first on the middle support now turned resistance and then back down to our buy zone at bottom trendline My current buy zone is still rather large at 9684 - 9585 however I am waiting for a touch on the bottom trendline and Then I will go long which is currently looking around 9625(daily key level) - 9575(Previous support) Stop loss will initially be at 9550 however bigger account I recommend 9525.
Once we see the rejection at the bottom we are entering our second wave within the new channel upwards to the top with confirmation on new channel which is starting to decline in slope. This is where our new rangebox will be created with zones of entry going up for more entries all the way to the top trendline. My first Take profit zone is currently sitting at 10 100-10135 with second Take Profit at 10310-10350 my last take profit zone which is a zone I want to see reached in Nas100 is sitting at 10450. Should we not be on the top trendline by this time I will be updating take profit to 10600 which was my next swings take profit zone.
Please note this is a heavy volatile pair and there extreme risk management should be applied in only trading what you can afford to loose the risk to reward ratio is above 1:10 with the entry zone still not extremely narrowed down however I do find that most of these major swing is risk to reward between 1:15 and 1:20 minimum once entries has been confirmed. Previous swing we had zero draw down and was risk free within minutes of enetering and we reached all three our take profit zones, let us see if it can be done again.
Currently we have finally broken the middle Support trendline and we are so far just a few days from the market mover cycle finishing again as previously mentioned. We did reach our previous major swing very fast leading to consolidation for few days. I am currently seeing more short in the form of either straight down to bottom trendline or an ABCDE correction wave meaning a retest first on the middle support now turned resistance and then back down to our buy zone at bottom trendline My current buy zone is still rather large at 9684 - 9585 however I am waiting for a touch on the bottom trendline and Then I will go long which is currently looking around 9625(daily key level) - 9575(Previous support) Stop loss will initially be at 9550 however bigger account I recommend 9525.
Once we see the rejection at the bottom we are entering our second wave within the new channel upwards to the top with confirmation on new channel which is starting to decline in slope. This is where our new rangebox will be created with zones of entry going up for more entries all the way to the top trendline. My first Take profit zone is currently sitting at 10 100-10135 with second Take Profit at 10310-10350 my last take profit zone which is a zone I want to see reached in Nas100 is sitting at 10450. Should we not be on the top trendline by this time I will be updating take profit to 10600 which was my next swings take profit zone.
Please note this is a heavy volatile pair and there extreme risk management should be applied in only trading what you can afford to loose the risk to reward ratio is above 1:10 with the entry zone still not extremely narrowed down however I do find that most of these major swing is risk to reward between 1:15 and 1:20 minimum once entries has been confirmed. Previous swing we had zero draw down and was risk free within minutes of enetering and we reached all three our take profit zones, let us see if it can be done again.
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