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NASDAQ 100 CFD

Short Idea on the DOW or US30I anticipate further downward pressure on prices, potentially breaking through previous lows. Please note that the chart provided is not intended as financial advice, but rather reflects my personal analysis and expectations. Following the recent CPI news, there was a deceptive upward movement, which I interpret as an opportunity for selling. With buying volume seemingly diminishing, I see potential opportunities for short positions. Wishing you the best in your trading endeavors.
OANDA:US30USDShort
by Part_Time_Astronaut
Nasdaq Prepares for Data Impact Amidst Rate Cut SpeculationsAs investors gear up for this week's consumer and producer price data, Nasdaq ended Monday's session with slight declines, fueling anticipation regarding the Federal Reserve's potential interest rate adjustments in the upcoming months. Technically, Nasdaq exhibited a double top formation around the 18400 level, accompanied by RSI indicator divergence. Analysts are eyeing a potential breakdown of the neckline around 17800, with targets set at 17700 and below. Expectations are high for U.S. consumer price data for February, projecting a monthly increase of 0.4% and a 3.1% rise on an annual basis. The release of this data is poised to significantly impact the markets and potentially confirm the outlined technical analysis. Last month, the stock market's rally witnessed a slowdown as robust economic indicators emerged, prompting traders to delay their expectations for the first Fed rate cut from March to June.
FX:NAS100Short
by FOREXN1
1
Nasdaq Intraday Review - Monday 11 Feb 2024 I trade Nasdaq exclusively Trading in GMT time zone Sharing my post day review and analysis in case it can help you! Did my analysis at +- 5:20am During analysis noted the following: Large DT formed on the 4H (marked with black lines) Sellers fib (drawn from swing high at D. to swing low at E.) indcated that price retraced to Sellers 0,382 fib level + pivot (at C.) and price now moving down Price consolidating above a very strong D support level (marked in grey zone highlight), with D EMA in the area - would need strong bearish push to break this support zone 2 x long wick candles on 4H TF touching this support zone, indicating that there is buying power at this zone. Would like to see a nice DB with neckline break before entering a buy Entered a buy at A. - Confirmations: Market Patterns: Break of the neckline of a DB formed on the 1H TF S&R / EMA: DB formed at strong Day support zone with D EMA in the area, providing dynamic support Fib: DB formed just above the W 0,382 fib level Trend: Entering a buy means trading in the same direction as the overall bullish trend - The trend is your friend Candlesticks: 2 x 4H long wick candles rejecting the strong Day support zone Mental stop place halfway down the height of the market pattern. Market moved down with momentum and I closed this position at stop loss Re-entered a buy at B. based on similar confirmations. The two long wick candles on the 1H TF (one in red and one just at B.) indicated to me that bulls were stepping in at the D support zone. Ultimately, market came down again and I closed this position also in a loss. Total pips loss for the day was 1900, because in the second entry I wanted to make sure that bulls would not step in again. After this loss, I decided to stay out for the rest of the day! What could I have done differently? I think that seeing that market retraced to seller's 0,382 fib + moving down, should have been a strong indication to me that a sell was in play, possible till Seller’s TP1. I should have waited for the extra confirmation of a neckline re-test before entering. Hope you had a better day than me! 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 DT = Double Top DB = Double Bottom
PEPPERSTONE:NAS100
by Jinxx84
Nasdaq February Monthly ReviewNasdaq - Feb Month Analysis I trade Nasdaq exclusively Trading in GMT time zone Sharing my post February review and analysis in case it can help you! Looking back at February, I want to review if I took the best trades for the month. The Day TF provides me with the strongest confirmations and the most profitable trades. This timeframe provides me with my bread and butter each month, so I need to make sure that I am taking these trades and getting the most out of them. Have a look at what I believe where the best trades for February and see how many you took. If you didn’t take a trade, try to understand why you missed it. This way you will increase your chances of getting into these trades in the future. For Feb, there were 4 trades to be taken - trades marked in numbers on the chart. Of course, there were many other profitable trades in Feb....but these are my "bread and butter" trades. Tomorrow I will share a very detailed analysis on entry points + confirmations + SL + TP expectations. See if you can come to your own conclusion on these 4 trades and then tomorrow we compare notes :)
PEPPERSTONE:NAS100
by Jinxx84
APPL INCApple Share Pullback Sparks Renewed Optimism for Future Gains Description: In the dynamic realm of financial markets, Apple Inc. (AAPL) has recently experienced a share price pullback, igniting both caution and excitement among investors. The recent downturn saw the stock price temporarily declining, triggering a wave of stop-loss orders. However, astute market observers are now contemplating a potential reversal in this trend, as historical patterns and fundamental indicators suggest the possibility of an upward trajectory in the near future. The Apple share pullback, though unsettling for some, is a common occurrence in the ever-evolving landscape of stock trading. Markets are often subject to fluctuations driven by a multitude of factors, including macroeconomic conditions, industry trends, and investor sentiment. Such periodic declines can be interpreted as opportunities for shrewd investors who understand the company's underlying strengths and potential for growth. As stop-loss orders were triggered during the recent pullback, some market participants may have been compelled to sell their Apple shares to limit potential losses. This mass selling could have contributed to the temporary decline in the stock price. However, seasoned investors are aware that market sentiment can sometimes overshadow a company's intrinsic value. Apple's robust product ecosystem, consistent innovation, and global brand recognition are formidable assets that have historically propelled its stock price to new heights. Investor optimism is buoyed by historical precedence, as Apple has demonstrated resilience and the ability to rebound from similar setbacks in the past. Notably, the company has exhibited a history of recovering from pullbacks and establishing renewed momentum in its stock price. This pattern underscores the potential for a similar resurgence in the wake of the recent downturn. Furthermore, fundamental indicators continue to paint a positive picture for Apple's future prospects. The company's strong financials, consistent revenue growth, and ongoing expansion into emerging markets contribute to a favorable outlook. As Apple continues to innovate across its diverse product portfolio, including smartphones, wearables, and services, the potential for increased revenue streams and sustained market dominance remains compelling. In conclusion, while the recent Apple share pullback may have triggered stop-loss orders and temporarily dampened investor sentiment, it also presents an intriguing opportunity for those who recognize the company's underlying strengths. Historical patterns of recovery, coupled with robust fundamental indicators, suggest that Apple's stock price may be poised for an upward movement in the near future. As always, investors should exercise diligence, conduct thorough research, and consult with financial advisors before making any investment decisions
NASDAQ:AAPL
by Asif_Brain_Waves
NAS100 - Interesting buy zone!Hello everyone! After the SL of yesterday, we are turning bearish on NAS100. Also because we are having rumors that start confirm itself, rumor about the US debt, but also about the NFP that gonna be bad ! Technically, I've entered a buy position due to: - 2 major liquidity uptakes. - Buy zone created through accumulation. - Strong reactions at the buy zone (Accu). Now we just wait! 🚀 If you liked it and want more, don't hesitate to subscribe and boost the post!
PEPPERSTONE:NAS100Long
by ex_rico
Nothing is BETTER then SIFI and NAS100As a seasoned trader with over a decade of experience, you possess a deep understanding of the intricate mechanisms that drive the financial markets. Your expertise lies not just in navigating these complexities, but in simplifying them for others. You're a master at distilling convoluted market trends and jargon into clear, actionable insights that empower both seasoned investors and newcomers alike. Your ability to break down complex concepts into digestible nuggets of wisdom sets you apart in a crowded field. Over the years, you've honed your skills through countless hours of analysis, observation, and strategic decision-making. Your intuition is finely tuned, allowing you to anticipate market movements with precision and adapt swiftly to changing conditions. Your approach to trading is not just about making profits, but about sharing your knowledge and empowering others to achieve success in the world of finance. Whether through mentorship, writing, or public speaking, you are dedicated to demystifying the markets and helping others navigate them with confidence and clarity.
OANDA:NAS100USDLong
by ZuriAki
2
NAS100 Trade IdeaThe US100 index has retraced, entering a bullish 1D order block. Analysis of the prevailing trend on this timeframe indicates a clear bullish trajectory. I am eyeing a potential buy entry opportunity within at 61.8% Fibonacci retracement levels. Employing a risk management strategy, stops will be placed below the preceding low, while targeting the previous high and potentially beyond with the implementation of a trailing stop. However, it's imperative to note that trading carries inherent risks, and past performance is not indicative of future results. Therefore, traders should conduct thorough research and exercise caution before making any financial decisions.
FX:NAS100Long
by fxtraderanthony
Navigating NASDAQ's Waves: Insightful Analysis**Insights Unveiled:** Embarking on a comprehensive journey through NASDAQ's post-2008 bull market, specifically honing in on the unfolding 5th wave and its intriguing ending diagonal dynamics. As we approach the conclusion of wave 3, it's time to delve into potential short-term opportunities on the horizon. **Cracking the 5th Wave Code:** 1. **Wave 1 & Post-COVID Recap:** - Wave 1 gracefully unfolded in 5 sub-waves. - Post-COVID (March 2020 to Nov 2021) presented an ABC narrative, with a notable ending diagonal stealing the spotlight in wave C. - The meticulous retracement of 61.8% (50% log-based fib retracement) acted as a definitive nod to a correction. **Zooming into the Current Wave Landscape:** 1. **Navigating the Wave 3 Diagonal Seas:** - Wave 3 takes center stage, mirroring the structure of wave 1 with ABC intricacies. - A danced-out wave A, a flag-waving wave B, and an Elliott Impulse-packed wave C mark the current scene. - Significant confluences at 61.8% (log-based fib) and 78.6% (simple fib) extensions from the post-COVID rally demand our attention. 2. **Unveiling the Layers of Wave C:** - Delving deeper into wave C reveals a potential 5-wave completion. - The confirmation awaits a breach of a specified level, potentially transitioning into a 4-hour chart diagonal pattern. **Anticipating Corrections and Identifying Entry Points:** 1. **Riding the Upcoming Wave 4:** - Gear up for the anticipated wave 4 correction, possibly adopting a flat structure. - Eyes on the prize - a strategic entry point awaits as the market breaches the wave B barrier. 2. **Marking the Entry Zone:** - Pinpointing a precise region as the probable entry point for the impending upward move. - Brace for market sentiment shifts during the wave 4 correction, offering a calculated entry opportunity. **A Glimpse into the Future:** 1. **Embracing the Long-Term Bullish Outlook:** - Concluding our top-down wave analysis, a steadfast long-term bullish trend comes into view. - While a short-term buying opportunity beckons, a correction reminiscent of 2007-2008 is anticipated, albeit with a gentler impact. **Navigating Risks with Care:** 1. **Applying Elliott Wave Rules Thoughtfully:** - In the dynamic world of market rhythms, consider Elliott Wave rules as a framework, not a rigid doctrine. - Exercise caution, manage risks diligently, and seek professional counsel before making trading decisions. **Important Note:** Trading is an intricate journey. This breakdown serves as a guide and educational tool.
TVC:NDQ
by syedhamza2135
7
Nasdaq Intraday Review - Tuesday 5 March 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review and analysis in case it can help you! Did my analysis at +- 5:20am During analysis noted the following: So following on from Monday's analysis, I had identified the yellow highlighted area as my "Zone 2" area of interest This was a strong area of confluence because: It was the 4H 0,618 fib level (drawn from swing low at A to swing high at B) + Day 0,382 fib level + 4H EMA (position during the morning roughly marked in green) I entered a pretty big buy at C. and set my stop loss really low at the orange thick line. Ultimately I watched my position tank and took a big loss. This scenario has caught me out many times before. I know that before entering at a fib level, one should wait for price action to confirm the reversal. If you look at the price action at C. level, there is clearly no price action indicating a reversal. But if you trade Nasdaq and you know this index well, you will know that Nasdaq very often does not give price action confirmation on the bigger timeframes (15min and above) You see it all the time how Nasdaq will dip down touch an area and the spike back up, leaving a loooooong wick candle of a hundreds of pips. Some of my most profitable trades have been entering at these levels without price action confirmation. But like yesterday, it can also bite me in the behind. I still haven't figured this out yet. Maybe there is confirmation on a lower timeframe? If you know what I mean and have an antidote, please let me know! ;) My next area of interest was the green highlighted zone. This represented an area of confluence because: The D EMA was at this level This was also the Week 0,50 fib level This time I did wait for price action confirmation :) And in typical Nasdaq style, it only gave it to me way above my area i.e. 600 pips above where I would've wanted to enter (see what I mean). So I entered at D. - Confirmations: Market Pattern - a DB had formed on the 15min TF with a break of the neckline Candlesticks - neckline break with strong momentum candle Fib - W 0,50 fib level and market moving up S&R - Dynamic support from the D EMA Market moved up and I have secured my positions at entry, so trading risk free today. I hope market moves well today. Lots of news so could be choppy! What could I have done differently? Still trying to figure it out, but on the surface, I don’t think I could have done anything different other than cutting my losses sooner. As said, this strategy often pays off for me. All the best! 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 DT = Double Top DB = Double Bottom
PEPPERSTONE:NAS100
by Jinxx84
Is Nasdaq finally done?Two weeks ago, I mentioned the possibility of a significant correction for PEPPERSTONE:NAS100 , suggesting that the index could drop to as low as the 16k zone. As always, navigating uncharted territories, particularly at all-time highs (ATHs), presents challenges in determining price levels and timing trades. However, I now have a reference point, which is yesterday's high. From a technical perspective, as I've mentioned previously, we're observing a rising wedge pattern, typically indicative of a reversal, coupled with indicators showing divergence. In conclusion, in my opinion, we have reached a peak for now, and PEPPERSTONE:NAS100 is likely to enter a correction phase.
PEPPERSTONE:NAS100Short
by Mihai_Iacob
5
NASDAQ Hits Record Highs:A Short-Term Correction on the Horizon?Last week witnessed the Nasdaq soaring to new heights, surging to an all-time high of 18,346 during the European session. However, amidst this bullish fervor, indications of a possible retracement loom on the horizon. As the Nasdaq index ventures into overbought territory, as evidenced by the Relative Strength Index (RSI), investors are cautiously eyeing a potential reversal. With the RSI signaling overbought conditions, market sentiment suggests a corrective move, with the 18,000 level emerging as a plausible target for price adjustment before contemplating further bullish momentum. In the realm of economic events, this week's agenda is marked by significant announcements. Today, investors eagerly await the release of the Sentix Investor Confidence data for March, which could offer insights into market sentiment and future investment outlooks. Looking ahead, all eyes turn to Federal Reserve Chairman Jerome Powell's semi-annual monetary policy report and congressional testimony scheduled for Wednesday and Thursday. Powell's remarks are anticipated to provide clarity on the Fed's stance regarding interest rates and monetary policy measures, potentially influencing market sentiment and investor behavior. Simultaneously, Thursday brings forth the highly anticipated monetary policy decisions from the European Central Bank (ECB). The ECB's announcement will shed light on its policy outlook and potential measures to address economic challenges, offering valuable cues for market participants. In light of these developments, investors are preparing for a short setup, anticipating a temporary correction in the Nasdaq's upward trajectory. While record highs have been achieved, prudent risk management strategies are in place to navigate potential market fluctuations and capitalize on emerging opportunities.
FX:NAS100Short
by FOREXN1
5
Nasdaq racing to 18,800 level - Trenders havenSInce the Nasdaq reached our take profit, our hands have been sat on! It's tricky for a breakout trader to trade the trends. We never know how long to hold on for (with daily interests that eat up our portfolios). So, I can only assume the uptrend will prevail until it reaches a target of 18,800. This is most likely where the US 30 will reach its target at 40,000 psychological level. But until then, we'll just wait for our breakout pattern to emerge.
NASDAQ:NDXLong
by Timonrosso
Nasdaq Intraday Review - Monday 4 March 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review and analysis in case it can help you! Did my analysis at +- 5:20am (just before 1am EST) Looking exclusively for a buy because "the trend is your friend" During analysis noted the following: Price consolidating in a triangle on 1H (marked by blue circle) I feel the market will retrace today Two interest zones identified Zone 1: Area of confluence because - Pivot point 4H 0,382 fib level (fib drawn from swing low at A to swing high at B) Market pattern - Just past profit target if a double top forms; market tends to reverse at or near profit target to re-test the neckline. I like being part of a re-test that is the same as the overall trend (bullish in this case) Zone 2: Area of confluence because - 4H 0,618 fib level D 0,382 fib level 4H EMA (was in this region at time of analysis and throughout the day) I set buy limits at each zone as follows: A smallish buy position at Zone 1, because for me the confirmations are not soo strong and it really depends on price action so I will judge the market sentiment based on candles to see if I add more A large buy position at Zone 2, because these are strong confirmations and price should at least bounce from here. Ultimately a DT did form and break the neckline down. But market was very slow and none of my zones of interest were triggered. In the evening, I cancelled my buy order in Zone 1 because I felt market was very slow and I wouldn’t get the reaction that I wanted in this area. Clearly, investors are waiting for the inflationary data this week. What could I have done differently? Nothing Hope you had a good trading day! :) 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 DT = Double Top DB = Double Bottom
PEPPERSTONE:NAS100
by Jinxx84
A Traders’ Weekly Playbook: Records are there for breaking After a quiet start to the week in markets, Friday’s US session saw risk come alive. A poor US ISM manufacturing at 47.8 – notable in the new orders and employment sub-components – was married with comments from Fed members Lorie Logan and Chris Waller, in turn promoting a strong rally in US Treasuries, with additional rate cuts being priced through 2024. The result was new all-time highs in the US500, US30 and NAS100, with the US2000 eyeing a key breakout of its longer-term range high. New US equity highs backed new highs seen in the AUS200, JPN225 and EU Stoxx and GER40. Gold also got huge attention from clients, rallying 1.9% to set at a new closing high, and we’ve seen many in our alt-crypto offering (notably Bitcoin cash) ripping. We’ll see if the feel-good factor lasts, but I find it interesting that equity and risky assets rallied despite seeing poor US data – where it’s easy to argue that poor data that increases economic slowdown risk, could have prompted risk aversion. So, while we can also point to Fed chatter, it seems in this case bad economic data was good for risk, with the overriding factor being increased rate cut expectations. We’ll see if that same reaction is seen in the outcome of the US ISM services print and the various labour market readings, as these will be the key cross-asset drivers this week. Powell’s testimony to Congress will also get a look-in from traders and we know if he wants to move market pricing he can. The ECB and BoC meeting and the China NPC meeting will get good attention but will play second fiddle to the US data. The poor market internals in equity may be an amber warning sign to some, but market internals and breadth have offered no profitable signal for a while - pullbacks remain shallow and there is a hunt to go hard on risk. There is plenty to navigate this week but for now, the price action shows that the bulls are very much in control. Long equity hedged with gold exposures seems the play, and looking at the charts on the higher timeframes it feels like the path of least resistance being onwards and upwards. Good luck to all. The marquee event risks for the week ahead: The key risk events for markets this week – China NPC meeting, ECB meeting, Jay Powell’s testimony to Congress & US nonfarm payrolls. Monday Switzerland CPI (18:30 AEDT) – the market looks for CHF headline CPI to print 1.1% yoy (from 1.3%) and core CPI at 1% (from 1.2%). The CHF swaps market prices a 25bp cut at the Swiss National Bank (SNB) meeting on 21 March at 70%, so a weaker than expected CPI print should see the market push that implied to c.90%, suggesting the SNB could lead G10 central banks in the sequencing of policy easing. As a result the CHF could become a consensus short from hedge funds. Look for XAUCHF to rally hard on a weak CPI number. Tuesday   US ISM Services Index (Wednesday 02:00 AEDT) – the market looks for the services index to print 53.0 (from 53.4). Given the moves in risky assets (equity, credit) and gold post last week’s ISM manufacturing this data point could drive market volatility. A print below 51.0 would be a surprise and promote further upside in XAUUSD, with the market putting notable attention on the new orders and unemployment components of the survey. Japan (Feb) Tokyo CPI (10:30 AEDT) – the market looks for JP headline CPI to print 2.5% (from 1.6%) and CPI ex-food and energy unchanged at 3.1%. After last week’s upside surprise in the JP national CPI print, and the upside move in 2-year JGB yields to 0.19% (the highest level since May 2011), the market will watch this one closely and an upside surprise could see JPY shorts cover. BoJ Gov Ueda speaks at a fintech summit (15:00 AEDT) – after speaking last week at the G20 meeting and his comments considered dovish, we’ll see if this is the forum for a change in Ueda’s stance. ‘Super Tuesday’ – the biggest day in the primaries calendar, with some 15 states voting to nominate their choice of Presidential nominee. Given Trump’s result in South Carolina, it seems a done deal that he will get the REP nomination, so it's hard to see Super Tuesday as a market event. China 14th National People Conference – the market will learn of the government’s economic targets for 2024 and what they are aiming for GDP, inflation, unemployment, and the deficit. We should see officials target growth of “around 5%” but it is feasible they aim for more. Wednesday US JOLTS job openings (Thursday 02:00 AEDT) – the market looks for 8.89m job openings (from 9.026m) – Traders with long positions in equity and gold and USD shorts will want to see a weaker print vs consensus expectations. Australia Q4 GDP (11:30 AEDT) – the market looks for Q4 GDP of 0.3% QoQ / 1.4% YoY (from 2.1%), but expectations will be massaged as we get the partials (inventory, company profits, net exports as a percentage of GDP). Can’t see this being a mover of the AUD to any great degree, so would have limited concerns about holding AUD positions over this data point. UK Budget (23:30 AEDT / 12:30 local) – Rishi Sunak needs Jeremy Hunt to pull a rabbit out of a hat to get voter momentum into the UK election - but one questions if this budget moves the dial on voting intentions and impacts the UK bond market, and by extension the GBP? Recent media suggests the chance of a major fiscal boost from the budget has been reduced - see my colleague Michael Brown's preview here - pepperstone.com Bank of Canada meeting (Thursday 01:45 AEDT) – the BoC won’t move on policy and will almost certainly keep rates at 5%. Given the recent downside surprise in December GDP (1.1% YoY) and January CPI print (of 2.9%) we could get stronger guidance on future easing. CAD swaps price 85bp of cuts (or just over three 25bp cuts) by December, so the move in the CAD will come as traders reconcile the tone of the statement with this pricing. Thursday Fed chair Jay Powell testifies to Congress (Friday 02:00 AEDT) – Jay Powell’s testimony will garner big attention from the market, where most see Powell offering a balanced/neutral view of economic risk and policy – this is his last formal forum to speak before the 20 March Fed meeting, in which some feel some risk of a risk of a hawkish pivot. China trade data (no set time) – a hard one to react to given there is no set time for the release – the market looks for exports to increase by 3% and imports by 1.5%. A larger import number could boost currencies such as the AUD, NZD, and CLP. Japan labour cash earnings (10:30 AEDT) – while we look ahead at Japan’s spring wage negotiations, the market looks for cash earnings of 1.3%, which suggests real wages of -1.4% Mexico CPI (23:00 AEDT) – the market looks for headline CPI at 4.43% (from 4.88%) and core CPI at 4.62% (from 4.76%). Given recent economics, the prospect of a 25bp cut in the 21 March Banxico meeting looks likely, and the CPI print could reinforce that belief. Conversely, an upside surprise could see USDMXN break 16.9924 support and offer a larger downside move to 16.8000. ECB meeting (Friday 00:15 AEDT) – the ECB are not expected to ease until June, so the statement and Christine Lagarde’s speech will most likely reflect the market’s central view. The bar seems high for the ECB to open the door to an April cut at this meeting, and Lagarde’s commentary may point to a “few month months” of data before they ease. The ECB’s updated economic projections, while likely to be downgraded, will still not be poor enough to suggest increased urgency to normalize. Unless we get a big surprise from the ECB, I’d be looking to fade moves in EURUSD into a 1.0920 to 1.0760 range this week. Friday US nonfarm payrolls (Sat 00:30 AEDT) – the market looks for moderation from the blowout January report, where the consensus sits at a healthy 200k jobs created in February. The unemployment rate is expected to remain at 3.7%, with average hourly earnings growing 4.3% yoy (from 4.5%). NFPs is the marquee event risk of the week, but forging a playbook is not clear cut – One questions if a rise in the U/E rate lifts risky assets as bond yields fall (rate cut expectations increase), or whether this outcome promotes risk aversion as traders consider the negative implications on economics. The USD will hold the cleanest read on the review of the data. Canada employment report (Sat 00:30 AEDT) – the market looks for 20k jobs created and a tick up in the U/E rate to 5.8%. International Women’s Day Saturday China CPI/PPI (12:30 AEDT) – the market sees CPI increasing by 0.2%, which would mark the first positive read after four months of falling consumer prices (month-on-month). PPI is eyed -2.6%. The trader’s concern here is around whether this offers any gapping risk for China assets, or its proxies (AUD, NZD, CLP etc) – I would argue it doesn’t. US earnings – Target, Marvell Technology, Costco, Broadcom Full Fed speaker line-up for the week
PEPPERSTONE:XAUUSDLong
by Pepperstone
1
Nasdaq Intraday Review - Friday 1 March 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review and analysis in case it can help you! Did my analysis at +- 6:30am GMT (1:30 EST) During analysis noted the following: The February month candle closed as a green momentum candle, indicating a very bullish market, despite being at all-time highs and despite the worries around inflation / Feb rate cuts On the D TF, a beautiful DT had formed in the past few days, broken the neckline down and then price completed the pattern perfectly by moving down the same distance as the height of the market pattern The area at the pumpkin was an area of confluence because: It was the profit target of the DT (same distance as the height of the DT) It was the D 0,382 fib level, as well as coinciding with the W 0,382 fib level Generally, after reaching the profit target of a market pattern, price will reverse to test the neckline I like to be part of a re-test that is in the same direction as the overall trend (in this case bullish) From the pumpkin, price re-tested the neckline and with the help of inflation data news on 29 Feb (PCE and initial jobless claims), price broke through the neckline and continued upwards Meaning that the bullish trend CONTINUES!! Interesting to see how price came back down to test the temporary downtrend line marked in red. It was a deep retest of 830 pips by bears (pushing down till A.), but on 1H TF, you can see how bulls pushed back up and managed to close the candle at A. above the temp downtrend line So looking exclusively for a buy - the trend is your friend! At time of my analysis, price has reached TP1 (roughly at the pink horizontal line) of the move yesterday This means that market may retrace at this point, so I need to wait patiently for a convincing break of this area before buying, or alternatively, wait for the retracement before jumping in. Yellow highlighted area = area of good confluence: 4H EMA was in this zone at time of analysis 4H 0.618 fib level - a strong fib level (Fib drawn from swing low at A. to swing high at B.) Daily pivot point I set my Buy Limits in this zone for a big position size, due to strong confirmations Entered a buy at C. - Confirmations: Market seemed to have convincingly broken above the TP1 level (on 30min TF) and seemed to want to move directly to TP2 I don’t like buying at the very peak of price, so I entered a very small buy Ultimately price reversed and this position was in draw down I closed at entry as soon as price moved back up I was waiting for price to reach my yellow buy zone, but it never did. Price dipped to touch the 4H 0,50 fib level, and a DB appeared on the 15 min TF This indicated that price was ready to move up and would not reach my buy zone I entered a buy at D - Confirmations: Fib - price had touched the 4H 0,50 level and moved up Trend - entering a buy meant I was trading in the same direction as overall trend Market Pattern - DB formed on 15min TF at 4H 0,382 fib level Candle sticks - The red 1H candle at D. closed with a long wick touching the 0.50 fib level and closing above the 0,382 fib level I entered at half my total planned buy position in case market still moved down into my yellow buy zone and at the moment of entering a buy at D., I cancelled half of my buy limits as I had entered these positions higher at D. Ultimately market moved up 3000 pips and I took partial profit at TP 1 and closed above TP2. What could I have done differently? I am happy with my D position I should not have entered my position at C as there was not enough confirmations - I was lucky to be able to close at entry Hope you had a great trading day! 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 DT = Double Top DB = Double Bottom
PEPPERSTONE:NAS100
by Jinxx84