NAS100 / June 15 - June 19 Idea
Updated
Greetings TradingView!
How are you all doing? I hope you've all enjoyed your weekend and you're ready for a bit of a bumpy week ahead!
Let's take a look at NAS now that we've seen some other movement, finally, some bears awoke and come out of their caves, but it didn't look like they were around for long. We do see some strong rejections and buy zones being approached.
ZONE #1:
( Green dotted lines on bottom wicks )
Whilst the index is showing us some promising rejections from 9586 to 9496 we know that this is a 'zone' to watch. We could see a rally followed by more falling throughout the week. We have seen the index respect the 50% trend level so we could see it continuing providing it keeps showing us some respect.
ZONE #2:
(Yellow rectangle boxes)
I see a HUGE lot of buy orders on this level, like a lot. I can't tell you that we're heading down to 9177 exactly this week, but we could see it this month. It could be a target for most sellers and with company announcements throughout the month, we need to be patient.
I'm going to wait until I see it either rejects or respects, listen to the news and also pay close attention to the index's price movements throughout the week. I hope you all can join me when our position is presented to us, as it's going to be a monster.
I'll post my position when I am going to enter.
How are you all doing? I hope you've all enjoyed your weekend and you're ready for a bit of a bumpy week ahead!
Let's take a look at NAS now that we've seen some other movement, finally, some bears awoke and come out of their caves, but it didn't look like they were around for long. We do see some strong rejections and buy zones being approached.
ZONE #1:
( Green dotted lines on bottom wicks )
Whilst the index is showing us some promising rejections from 9586 to 9496 we know that this is a 'zone' to watch. We could see a rally followed by more falling throughout the week. We have seen the index respect the 50% trend level so we could see it continuing providing it keeps showing us some respect.
ZONE #2:
(Yellow rectangle boxes)
I see a HUGE lot of buy orders on this level, like a lot. I can't tell you that we're heading down to 9177 exactly this week, but we could see it this month. It could be a target for most sellers and with company announcements throughout the month, we need to be patient.
I'm going to wait until I see it either rejects or respects, listen to the news and also pay close attention to the index's price movements throughout the week. I hope you all can join me when our position is presented to us, as it's going to be a monster.
I'll post my position when I am going to enter.
Note
As you can see, market is heading straight down to our respectable zone. If we don't see a respecting price above the 50% Yellow line, we are continuing our bearish descent to the next buy level.However, if we do see respect all you bears better get out of the way because the non-retailers need some liquidity.
Note
Respected to a T. Enjoy
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