US Nas 100Updated NAS100USD 1H
Hello, traders. On the 1-hour timeframe, the price is moving within an ascending channel and has reacted to this channel several times. The price is approaching the resistance zone at 19,850, which aligns with the 78.60% Fibonacci level, increasing the significance of this area. I anticipate that once the price reaches this resistance level, which also aligns with the FVG candle, after forming a CHOCH pattern on a lower timeframe, we should look for an entry point for a sell position. For the take profit, we can target the support level at 19,470, which also aligns with the 78.60% Fibonacci level.
Trade closed: target reached
target reached
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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.