Weekly Forex Forecast Nov. 11th: BUY S&P500, NASDAQ, & DOW!This is the Weekly Forex Forecast for Nov 11th.
The Big 3 Indexes are strong, trading at ATHs. There is no reason to look for anything other than buys this week.
Check the comments section below for updates regarding this analysis throughout the week.
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NASDAQ 100 CFD
NAS100 - WHEN DO WE EXPECT THE DOWN TRENDTeam, I was roughly measuring the trend last week for NAS.
But today, I have carefully measured the position where it would be an excellent short-area
I would consider shorting around 21255-21295, with a TIGHT stop loss at 21335
Target 1 at 21136-21115
Target 2 at 21005-20985
Target 3 at 20925-20905
PLEASE NOTE, take some partial at 1st target ranges and bring stop loss to BE for further Target.
Nasdaq Short: Weak Tech & Key Data AheadTaking advantage of the current bearish momentum in the Nasdaq with a daily short setup. Recent price action reveals a double-top pattern and a significant trendline break, suggesting potential downside. As we approach critical economic data releases, volatility is expected, which could fuel further bearish movement.
Technical Analysis
• Pattern: Double-top formation, a bearish reversal signal, confirmed with a break below the neckline.
• Trendline: The long-standing upward trend has been broken, validating the bearish scenario.
• Key Resistance: $20,200 area is acting as a strong resistance zone.
• Support Levels: Initial support around $18,800 with further downside potential if broken.
Fundamentals:
The short position on Nasdaq is driven by the weak tech performance, with giants like MSFT (-6.05%) and META (-4.09%) showing declines. Rising bond yields have intensified pressure on tech stocks, indicating potential shifts in investor sentiment. Additionally, tomorrow’s key data—Non-Farm Payrolls (forecast: 113K vs. prior 254K), Unemployment Rate (expected steady at 4.1%), and ISM Manufacturing PMI (forecast: 47.6)—could further impact market outlook, with any surprises likely to influence Fed expectations and Nasdaq sentiment.
Risk Management
• Entry: Near current levels, aiming for downside momentum.
• Stop Loss: Above recent highs to protect against false breakouts.
• Target: Initial target at $18,800, with potential to extend if bearish momentum persists.
Risk Note: Given the volatility associated with these macroeconomic events, there is potential for increased fluctuations. Managing risk through stop-losses and close monitoring of data releases is essential.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
VIX GOING BACK UPAfter two false routes (the two white lines), we know for sure that VIX is to go up at some point to make up for the gap it made this week.
The only thing is we thought today's opening would be a higher gap compensating the precedent gap, but it kept getting lower and lower.
Now that we're approaching a low KL, there might be a new opportunity for a long entry, stay advised and always put a tight SL on this.
Nasdaq Intraday Review - Friday 8 Nov 2024I trade Nasdaq exclusively
Trading in GMT time zone
Sharing my post day review and analysis in case it can help you!
Been quiet, dealing with a personal issue - but time to get back into trading.
Did my analysis at +- 5:30 am GMT (00:30 am EST)
Economic news - None today. Fed cut interest rates by 25 bps yesterday.
News - Trump won the US presidential election.
Directional bias - BUY. The strong upsurge in the stock markets are a clear indication that the markets view the US election results favourably. Bulls have stepped in with both volume and momentum.
Morning analysis:
M TF - Very bullish, current candle is 12'500 pips strong
W TF - Very bullish, fib levels moved up and now coincide with D fib levels = TF confluence and strong levels
D TF - Second day of highest D candle close. Bulls are dominating. Strong fib levels as coincide with W.
4H - Difficult to draw fib because price action just moved straight up, but used the line chart to give best estimate (fib drawn from swing low at A to swing high at B) and 4H 0.382 fib level lines up perfectly with pivot point. This is my interest area / area of confluence for today.
During the day:
Price formed a rising wedge on the 1H TF, marked with the blue lines.
Price broke the market pattern downwards and moved down past the market pattern profit target, marked by blue vertical line (i.e. price usually moves down the same distance as the height of the market pattern).
As price neared my area of interest, I noted a double bottom form on the 5min TF and entered.
Entered a buy at the hand icon - Confirmations:
1. Trend - a buy is in the same direction as the overall trend - the trend is your friend
2. Fib - price made a DB above the 4H 0.382 fib level - 4H fib levels are strong levels.
3. Market pattern - DB formed on the 5min TF with neckline broken upwards. I used the 5min TF because price was right at my area of confluence (I don't use this TF if price is not in my area of interest)
4. Candlesticks - doji candle formed on the 15min TF, thereafter, neckline of DB was broken upwards on the 5min. This indicated that sellers were unable to push price down beyond this point and that buyers stepped in.
6. S&R - DB formed above the D pivot.
Mental stop placed below pivot point, at thick red line.
Price moved up and is now re-testing the neckline of the 4H DT. Seems that as of now, bears are giving bulls a hard time.
Once price moved up sufficiently, I secured at entry (moved SL to entry) and am now effectively trading risk free.
My intention is to hold my position in case bulls can re-test and break the 4H neckline upwards.
If I get taken out before that...then I would be ok with a zero profit day for my first day back.
Hope you coined it during this incredible bulls rally the past few days! :)
Abbreviations:
TF = timeframe
TP = take profit
1H = 1 hour
4H = 4 hour
D = day
W = week
M = month
S&R = support & resistance
EMA = exponential moving average
SL = stop loss
NASDSAQ INDEX (US100): Bullish Confirmation After Breakout
US100 Index updated the all-time high, violating a solid daily horizontal resistance.
After a breakout, the market retested the broken structure and started to consolidate
on an hourly time frame.
A violation of the upper boundary of the range is a strong intraday bullish continuation.
It indicates that with a high probability, the price will go up.
Next goal - 20920
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Nasdaq Outlook: 07-NOV-2024Good morning, traders! Welcome to today's Nasdaq market analysis. Compare my price action insights with your own charts and enhance your trading skills.
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Nas100 - 15 min ( Best Key level's Buy / Sell After Break 💎 NAS100
Time Frame : 15min Chart
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🔻 Type :intraday
🚨Bullish After Break Out key level + High Volume / 20660 Area
🚨Bearish After Break Out key level + High Volume / 20550 Area
———————————
☑️Great opportunity now
Please check the drawing carefully and all the reasons for entry and exit are shown in the analysis
If the analysis does not agree with you, please do not take it
This is a personal vision that reflects my practical way
good luck for everybody
And we strive to provide the best opportunities and develop your money
Please apply good capital management
NASDAQ100 Plummets! Short Trade Nears Final Target!NASDAQ100 (NDX) Analysis:
NASDAQ100 (NDX) has seen a strong downward trend on the 15-minute chart, with the trade setup delivering impressive results. Targets 1 through 3 have been hit, and the price is closing in on the final TP4 level, making this an ideal short trade for traders leveraging the momentum.
Trade Summary:
Entry Level: 20429.42
Target Levels:
TP1: 20323.94 ✅
TP2: 20153.26 ✅
TP3: 19982.58 ✅
TP4: 19877.10 (nearly hit)
Stop Loss: 20514.76
The Risological Dotted Trendline guided traders perfectly through this short trade, marking a strong resistance level as the index continued its descent.
US100 20046.9 0.02% LONG IDEA INTRADAY SET-UPHELLO TRADERS
Hope everyone is doing great
📌 A look at NAS100 from MULTI TIME-FRAME ANALYSIS
From the 4H TF
* we swept Lows , which was the short term low within the range.
* Beautiful rejection forming a wick favoring bullish move.
* So seems we may see a reversal before continuation with the bears.
US100 1H TF
* Strong bearish rejection, multiple wick rejection.
* 1H looking for a push into the +OB ✔ to BUY intraday
.
US100 15 TF
* Multiple rejection of bearish move.
* Looking at the 1H +OB, this is where I would look for LONGS as we are rejecting downside.
* Should this PD ARRAY hold will be Short for the US100.
* BASED on the price action served this week.
US100 5M
- ASIA HIGHS - EQ HIGHS
- DAILY OPEN - TRADING BELOW
-TRUE DAILY OPEN - TRADING BELOW
- LONDON LOWS ✔
HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK.
SEE YOU ON THE CHARTS.
IF THIS IDEA ASSISTS IN ANY WAY OR IF YOU ENJOYED THIS ONE
SMASH THAT 🚀 & LEAVE A COMMENT.
ALWAYS APPRECIATED
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Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
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| * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤
LOVELY TRADING WEEK TO YOU!