NAS100 POWER LONG TO MAJOR DECISION AREA
Updated
Fundas - The earnings season so far has been mixed, however techs continue to outperform expectations. I expect bulls to come back and try to squeeze as much value as they can here.
Techs: With that in mind, i am watching the NASDAQ futures for an upside play to the 6850 region with a potential entry at 6670. My stop loss will be 6560, unless i see clear supply on the 4hr once momentum kicks in. Once we get to the 6850 area i think the market will have some key decisions to make and we will have to see what it does there. If we power thru i will be prepared to hold some of my position and ride the wave, if not i will manage accordingly. And ofcourse we add to our winners along the way as direction is confirmed.
Happy trading
Techs: With that in mind, i am watching the NASDAQ futures for an upside play to the 6850 region with a potential entry at 6670. My stop loss will be 6560, unless i see clear supply on the 4hr once momentum kicks in. Once we get to the 6850 area i think the market will have some key decisions to make and we will have to see what it does there. If we power thru i will be prepared to hold some of my position and ride the wave, if not i will manage accordingly. And ofcourse we add to our winners along the way as direction is confirmed.
Happy trading
Trade active
Started in long as per plan at 6670Comment
Closed part of the positionComment
Riding the rest as the market allowsTrade closed manually
All done, Solid win! Closed the rest at 6940's.
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