NAS100USD / TRADING BELOW TURNING LEVEL - 4H
Updated
NAS100USD / 4H TIME FRAME
HELLO TRADERS
The overall trend is downward , until trading below turning level at 19,105 .
The price action points to a likely continued decline due to its inability to surpass the key turning point of 19.105, signaling persistent downward momentum. Staying under this level implies strong bearish pressure, with support levels at 18,699 and 18,351 as possible targets.
On the other hand, breaking above 19.105 would suggest a change in market sentiment towards a more bullish trend, potentially leading to a rise towards the resistance levels of 19,538 and 19,906, driven by increased buying interest and upward momentum
KEY LEVELS :
HELLO TRADERS
The overall trend is downward , until trading below turning level at 19,105 .
The price action points to a likely continued decline due to its inability to surpass the key turning point of 19.105, signaling persistent downward momentum. Staying under this level implies strong bearish pressure, with support levels at 18,699 and 18,351 as possible targets.
On the other hand, breaking above 19.105 would suggest a change in market sentiment towards a more bullish trend, potentially leading to a rise towards the resistance levels of 19,538 and 19,906, driven by increased buying interest and upward momentum
KEY LEVELS :
- TURNING LEVEL : 19,105 .
- RESISTANCE LEVELS : 18,699 , 18,351 .
- SUPPORT LEVELS : 19,538 , 19,906 .
Trade closed: target reached
rising reached turning level + 315 pip profit .
currently trading below it , stabilizing and remain below 19,105 it suggest decline to reach 18,699 .
however , breaking 19,105 rising towards to reach resistance level at 19,538 , then to 19,906
Trade closed: target reached
reached full target + 625 pip profit .
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