NAS100 I Break of daily support level 19,467Welcome back! Let me know your thoughts in the comments!
** NAS100 Analysis - Listen to video!
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Nas100analysis
Nasdaq bounces from trend support ahead of tech earningsThe Nasdaq may experience significant volatility in the coming days due to upcoming technology earnings reports.
Technically, the bullish trend is still intact despite a recent decline that brought the index below the 20,000 mark, which now serves as a short-term resistance level. Reclaiming this level in the next few days would be a positive sign.
The short-term trend line, established in April, needs to hold on a daily closing basis to maintain bullish sentiment. If this trend line is breached, it could lead to a deeper correction, potentially down to the highs reached earlier this year around 18,460, where the longer-term bullish trend line from October also comes into play.
By Fawad Razaqzada, market analyst at FOREX.com
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NAS100USD ( TRADING ABOVE DEMAND ZONE ) ( 4H )NAS100USD
HELLO TRADERS
Tendency , the price is under bullish pressure until trade above demand zone .
TURNING LEVEL : the price of turning level around 19,532 , indicates the price trade above this level reach a resistance level , but if breaking this level reach a support level .
RESISTANCE LEVEL (1) : around 20,078 , for reach this level will be stabilizing above turning level .
RESISTANCE LEVEL (2) : around 20,383, for reach this level will be above resistance level (1)
SUPPORT LEVEL (1) : support level at19,227 , for reach this level will be breaking and stabilizing below turning level .
SUPPORT LEVEL (2) : support level at 18,954 , for reach this level will be breaking by open 4h candle below support level (1) .
CORRECTIVE LEVEL : the price retest 19,532 , before rising .
TARGET LEVEL :
RESISTANCE LEVEL : 2,420$ , 2,442$ .
SUPPORT LEVEL ; 2,365$ , 2,337$ .
NAS100 I Potential long from support Welcome back! Let me know your thoughts in the comments!
** NAS100 Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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NASDAQ 15-Minute ChartThe bleu highlighted area at the top indicates a supply zone where the price has repeatedly failed to break higher.
This suggests strong selling pressure at this level.
The recent price action shows a potential bearish trend.
Given the repeated failure to break above the supply zone and the projected downward movement, market sentiment appears bearish for NASDAQ in the short term.
Consider entering a short position around the current price level or upon confirmation of a downward move from the resistance zone.
Targets would be the support levels at 19698.53.
Ensure proper risk management by sizing the position appropriately and setting stop losses.
Nasdaq Intraday Review - Thursday 18 July 2024I 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 +- 6am GMT (1am EST)
Economic news - Initial Jobless Claims @ 13h30
News - Netflix Earnings
Directional bias - BUY
My trading journal didn't save all my detailed morning analysis text (#irritating) :(
So to repeat, short and sweet....
I kept my bias today as a BUY because I was of the opinion that market would retrace and test the neckline area of D market pattern.
Reason for this opinion:
1. Day DT Profit target reached (market pattern completed)
2. Seller's TP2 reached
3. The lime green thick line is a strong resistance level on the W TF and if price breaks this support, then we are in for another big drop as indicated by the purple arrow.
So I felt like price would retrace, all the way up to the sell fib levels.
I entered buy's twice, based on DB's forming and breaking necklines upwards + temporary downtrend lines broken.
Mental SL was placed at the thick pink lines.
On both occasions price moved more than 250 pips away from my entry and I was able to secure my trade at entry.
Got taken out twice at entry as price moved back down and then I lost faith that bulls could overpower the bears to at least force a deep retracement today.
So no pips for me today.
Hope you had a better day!
Catch ya tomorrow! :)
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
NAS100 Technical Analysis and Trade Idea👉🔍 In this video, we analyze the NAS100. It's evident that US100 has been showing bearish momentum in recent times. However, I anticipate a retracement as it has traded into a key support level. My strategy involves monitoring the 5m chart for signs of sideways movement and a potential reversal, which could present a scalp/day trade buying opportunity targeting the previous bearish imbalance.
It's important to note that these observations are speculative and not a definitive forecast. Confirming specific price movements is crucial before considering any buying or selling decisions, as elaborated in the video. The video provides a comprehensive analysis of the current trend, market structure, and price dynamics. Remember, this educational content is designed to enhance understanding and does not guarantee outcomes. Trading inherently involves substantial risks, so employing robust risk management techniques is essential. 📈🔔
NAS100USD ( BREAKOUT CHANNEL ) ( 4H )NAS100USD
HELLO TRADERS
Tendency , after breakout channel the price is under bearish pressure .
TURNING LEVEL : the price of turning level between 20,214 and 20,084 , if the price breaking 20,214 reach a resistance level , but if breaking 20,084 reach a support level .
RESISTANCE LEVEL : currently price 20,127 inside sensitive area , if the price breaking turning level at 20,214 reach a resistance level at 20,386 .
SUPPORT LEVEL : if the price breaking 20,084 reach a support level at 19,910 .
PRICE MOVEMENT : the price breaking ascending channel it mean under bearish pressure , know the price in a sensitive area between turning level at 20,214 and 20,084 , price breaking 20,214 by open 4h candle above this level reach a resistance level at 20,386 , then breaking this level reach a 20,708 , if the price breaking 20,084 by open 1h or 30 min below this level reach a support level at 19,910 , the breaking this level reach a 19,688 .
TARGET LEVEL
RESISTANCE LEVEL : 20,386 , 20,708 .
SUPPORT LEVEL ; 19,910 , 19,688 .
Nasdaq Intraday Review - Tuesday 17 July 2024I trade Nasdaq exclusively
Trading in GMT time zone
Sharing my pre day review and analysis in case it can help you!
Did my analysis at +- 6am GMT (1am EST)
Economic news - None
News - None for today - tomorrow is Netflix earnings
Directional bias - Starting to look Bearish?!
During analysis noted the following:
M - Still looking bullish, but long wick beginning to form. Wick is 4'330 pips at time of writing, body of the M candle is 5'900 pips
W - On the W TF you can see weakness in the candles. Last week's candle closed with a very long wick red doji candle. This week's candle is still forming but the weakness is evident, with price struggling to stay above the last 2 week's highest closing points - strong resistance forming on the W TF. The way that this week's candle will close will be very telling because price could just be stalling and then continue to move up (especially during earnings season), or this could be the beginning of a reversal.
D - The large red candle on the 11 July can be seen as a retracement. Price moved down to the W - 0.50 fib level and then moved up again. However, now one can see that a DT may be taking shape on the D TF. A potential neckline is visible and once price breaks below that point on the D TF (i.e. a D candle closes below the neckline), we may be in for a large move down because the profit target of the DT is +- 4'700 pips away. Yesterday's D candle closed as a hanging man candle.
Hanging man candle is a bearish reversal candle and indicates:
- sellers are beginning to outnumber the buyers
- the long bottom wick shows that sellers are pushing lower but the buyers could only push up near the candle open, meaning that there are not enough buyers left to provide the necessary momentum to keep price rising.
Today, in the early morning hours, we see more bears entering the market and pushing price down (at time of writing)
4H -
Trend line - a down trend is forming between B. and C. - two touches to a trend line forms the trend line. Three touches to a trend line, confirms the trend. So if you draw trend lines to wicks a trend has formed. If you draw trend lines to candle bodies (i.e. disregard the wicks and draw a trend line touching the thick part of the candle as per the yellow trend line) you will have three touches to the trend line. So I interpret this to mean that a strong temporary down trend is formed and confirmed.
Sell fibs - one can also see that the sell fibs are becoming stronger and the bulls are unable to break these zones, even after many attempts.
The 4H 0.618 sell fib kept price down on 3 attempts
The 4H 0.50 sell fib kept price down on FIVE attempts. Hence why bulls are losing momentum, they keep pushing up but bears are successfully keeping bulls down at lower and lower price levels.
S&R - yesterday price has been unable to break above and away the pivot point and today (at time of writing) the pivot point has already acted as a strong resistance (as indicated by the 2 x dice icons)
Buy fibs - buy fibs are unable to give price the momentum to move up and we can see that the D - 0.382 buy fib + D - 0.50 buy fib has been breached. This is telling because the D fib levels are strong (marked in blue).
So after this analysis, it seems my directional bias as a BUY is under threat.
I know that if I don't have my directional bias correct, then big losses are guaranteed.
I may wait today to see how the D candle closes in relation to the D market pattern that is forming (DT) and see if bears are strong enough to break the neckline down. Up until then we still have a W 0.382 buy fib level + D EMA that needs to be breached by bears and perhaps these levels are strong enough to call in more bulls.
As Trading View always says, there are three things you can do as a trader....buy, sell or wait. And I think today I might wait.
Have a great trading day!
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
NAS100USD ( TRYING TO REACH A ORDER BLOCK ) ( 4H )NAS100USD
HELLO TRADERS
TENDENCY : generally the price stabilizing above turning level , indicates is under bullish pressure
TURNING LEVEL : the price between 20,387 and 20,217and called a FVG , as long as the price trading above this level reach a resistance level , breaking this level trying to touch a support level .
PRICE MOVEMENT : the price in previously reach a first resistance level at 20,387 , currently price stabilizing this level , my goal resistance level at 20,703 .
PRICE ACTION :
LONG CONDITION : have two cases to rising for reach a resistance level , first case the price retest a 20,387 before reach a resistance level at 20,703 , second case price retest 20.217 , before rising , if the price breaking order block at 20, 783 reach a new resistance level at 20,929 .
SHORT CONDITION : if the price breaking turning level at 20.217, stabilizing below this level reach a support level at 19,810 , then breaking a supply zone reach a next level at 19,405
TARGET LEVEL :
LONG CONDITION / RESISTANCE LEVEL : 20,703 , 20,929
SHORT CONDITION / SUPPORT LEVEL : 19,810 , 19,405
Nas 100 long Already in a trade from Friday on this pair and would be looking for scale in if i dont get taken out a break even. my entry for the scale in would be a 30m close above 20400.00.
However if I get taken out I would still ne looking to re enter following a rejection from 20,312.3 or 20,224.3
NAS100 US100 Trade Idea NASDAQConsidering the NAS100 is currently exhibiting a strong bullish trend, there may be a potential buying opportunity if it retraces into a discount zone near the 61.8% Fibonacci level. US100 NASDAQ
Trading involves risks, and past performance is not indicative of future results. Always conduct thorough analysis and consider risk management strategies before making any trading decisions.
NAS100USD ( BELOW TURNING LEVEL ) ( 4H )NAS100USD
HELLO TRADERS
Tendency the price trade below resistance trendline , indicates the price is under bearish pressure
TURNING LEVEL : there is a blue line around 20,557 , indicates if the price trade below this level reach a support level , but if the breaking turning level reach a resistance level
NEW RESISTANCE LEVEL: there is a green line around 20,742 , indicates if the price breaking turning level create a new resistance level
SUPPORT LEVEL : there is a red line around 20,245 , indicates buying have already increase this level , and in this level create a demand zone
PRICE MOVEMNET : the price stabilizing below turning level around 20,557, in my opinion until the price trade below turning level , reach a support level at 20,245 , then breaking this level reach a next target at 20,083 , if the price breaking turning level create a new resistance level at 20,742
TARGET LEVEL :
RESISTANCE LEVEL :20,742 , 20,871
SUPPORT LEVEL : 20,245 ,20,083
Nasdaq Intraday Review - Tuesday 9 July 2024I 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 +- 6am GMT (1am EST)
Economic news - None
News - None
Directional bias - BUY
During analysis noted the following:
M TF - current month's candle is 9'300 pips strong, indicative of strong bullish momentum
D TF - is bullish with yesterday's candle closing with a very small upper wick
4H TF - price has moved further than orange profit target, but I suspect that bears might start putting pressure on price.
1H TF - formation of a rising wedge market pattern, marked with dark blue lines. These usually break downwards, but can break in either direction. If the rising wedge does break downwards, the subsequent move down will be significant because the wedge pattern itself is large. Profit target is always the same height as the market pattern.
Noted 2 x areas of interest (areas of interest changed throughout the day because fib levels changed as market kept rising + EMA's moving - but ultimately these were my areas of interest for the day):
Area 1:
Pivot Point + 4H 0.618 fib level
Area 2:
Assuming that wedge market pattern has broken downwards and this area is the wedge profit target + 4H EMA + D 0.50 fib level(ish)
In the morning hours, entered a buy at the hand icon - Confirmations:
Market pattern - DB formed on the 15min TF, with a break of the neckline upwards. Entered on the break of the neckline
Trend - Buy is in the same direction as the overall bullish trend + temporary uptrend formed marked by the bottom pink line of the triangle
Candlesticks - the 1H candle close before this 15min DB entry was a doji candle, indicating that sellers may be losing momentum.
S&R - when the market is very bullish then price will respect the 30min EMA. There was a long wick candle down to the 30min EMA indicating that price was reacting to this dynamic support.
Fib - none
Set a mental SL at half the height of the market pattern as indicated by the think pink line.
Entered only half a position because it seemed unlikely that price would really move up from here with out first retracing.
Price moved up and then back down and price action broke my SL area and I closed at 100 pip loss (losing 100 pips is not a big deal in my books)
So waited patiently for my next set up, but was pretty confident in my Area 2, so set a buy limit for this zone for my full position size.
The area at the mushroom is pretty strong area because it is a strong S&R zone on the 4H TF and the D 0.382 fib level.
Price wicked down to this level and then seemed to reverse.
Watching price action carefully, I entered buys when a DB formed on the 5min TF with a break of the neckline upwards - this DB formed right on the 4H 0.618 fib level and the D pivot point.
I entered further buys when a DB formed on the 15min TF and 30 min TF, meaning that price was giving bullish signals on all the lower TF's i.e. timeframe confluence.
Mental stop was always at half the DB for each entered position.
Now currently, my positions are roughly 300 pips up and secured at entry.
I will leave them running till tomorrow and set TP 1 at a re-test of the ascending wedge pattern.
Sell Fib levels are also shown on the 1H TF, so tomorrow I will be watch for a reversal at these points (seems bulls have already pushed past the 0.382 sell fib level)
Hope you had a good day trading!
Catch ya tomorrow!
What could I have done differently / better?
Pretty happy with my performance today, I was patient and waited for market to give me a signal to buy. I also managed risk well by scaling in my buys as confirmation grew stronger and stronger on the various TF's
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
NAS100USD ( CORRECTIVE TURNING LEVEL ) ( 4H )NAS100USD
HELLO TRADERS
Tendency the price breakout resistance trendline , indicates the price is under bullish
RESISTANCE LEVEL: there is a blue line around 20,559 , indicates selling have already increase this level .
SUPPORT LEVEL : there is a red line around 20,245 , indicates buying have already increase this level .
PRICE MOVEMNET : the price between support level and resistance level , in my opinion after the price breakout the resistance trendline price stabilizing bullish , so the price corrective a support level around 20,245 , after rising to resistance level at 20,559, then stabilizing this level reach 20,750 , if the breaking support level at 20,245 by open 4h candle below this level reach a 20,088
TARGET LEVE L :
RESISTANCE LEVEL :20,559 , 20,750
SUPPORT LEVEL : 20,245 ,20,088
Nasdaq Intraday Review - Friday 5 July 2024I 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 +- 13h00 GMT
Economic news - NFP @ 13H30
Directional bias - BUY (overall trend on Nas is bullish - "The trend is your friend")
During analysis noted the following:
Usually don't like trading in the morning before NFP (because often market is just consolidating) - so did my analysis just before the news came out.
I am still figuring out my personal method of trading NFP, but I lean towards trading with the trend and trying to get in on a spike down.
Price was at about the arrow when I did my analysis.
I noted a DT had formed on the 1H TF - neckline and profit target marked with green lines. Profit target = same height as the market pattern.
Also noted that if price dips from where it was at the arrow, then a DT would be formed on the 4H TF - neckline and profit target marked with purple lines.
At the time of analysis, the 4H EMA was right at the profit target of the purple DT.
I have noticed that even during news, very strong areas of confluence can still cause price to bounce (sometimes enough to be able to secure at entry after price has moved 250 pips from entry).
So because I felt that market is still chasing that orange profit target, from the huge orange consolidation triangle, I felt convinced of my directional bias.
I had two strong areas of interest:
Area 1:
Profit target of purple DT + 4H EMA + Strong S&R (previous swing high on 4H TF) + 4H 0.382 fib zone (Fib drawn from swing low at A. to swing high at B.)
So at this area, you would get pattern traders possibly entering, EMA traders possibly entering, fib traders possibly entering and S&R traders
Area 2:
4H 0.50 fib level + D 0.382 fib level + strong support on 4H TF.
So I set buy orders for quite big positions at these areas.
It's risky because NFP can be so incredibly volatile and can just smash so far down that you can bust your account.
Area 1 was 1'400 pips from where price was at the arrow and area 2 was 2'500 pips from where price was.
So be sure your account can handle your buy orders if a large draw down occurs.
Because these 2 area's were so far down, I felt I had to set a buy order somewhere higher.
I identified Area 3:
Profit target of 1H DT + 1H 0.50 fib + 1H EMA + somewhat of a S&R zone on 1H TF.
But because this was so close to where price was, I set a buy order for a much smaller position.
NFP news came out, and my Area 3 buy order triggered.
Had a draw down of about 278 pips and price touched the Daily pivot and reversed (I find it so interesting how price can spike down to a very specific point and then reverse on the spot and fly).
Clearly, many traders had set buy orders at this level.
Price skyrocketed and I feel it is chasing that orange profit target level.
Ultimately price moved 2'200 pips from my position.
My profit target is at the orange profit target line end and I am still in the game (didn't close as yet).
Patience paid off and I am happy to end a relatively quiet week of missed trades (because of work deadlines) with a BANG!!!
Hope you caught this awesome buy and made nice money!
Have a great weekend!
Monday we trade again! :)
NAS100 NASDAQ Technical Analysis and Trade Idea US100👉🔍 In this video, we analyze the NAS100 index. It's evident that the NASDAQ has been showing strong upward momentum in a bullish trend. However, considering today is Friday, I anticipate a potentially sharp retracement with the US100. My strategy involves monitoring the 15-minute chart for signs of sideways movement and a potential reversal, which could present a selling opportunity targeting the previous swing low.
It's important to note that these observations are speculative and not a definitive forecast. Confirming specific price movements is crucial before considering any buying or selling decisions, as elaborated in the video. The video provides a comprehensive analysis of the current trend, market structure, and price dynamics. Remember, this educational content is designed to enhance understanding and does not guarantee outcomes. Trading inherently involves substantial risks, so employing robust risk management techniques is essential. 📈🔔
NAS100USD ( UNDER ADP NEWS ) ( 4H )NAS100USD
HELLO TRADERS
Tendency the price breakout resistance trendline , indicates the price is under bullish at 19,926
RESISTANCE LEVEL: there is a blue line around 20,088 , indicates selling have already increase this level .
SUPPORT LEVEL : there is a red line around 19,926 , indicates buying have already increase this level .
PRICE MOVEMNET : the price between support level and resistance level , in my opinion after the price breakout the resistance trendline price stabilizing bullish , so the price corrective a support level around 19,926 , after rising to resistance level at 20,088 , then stabilizing this level reach 20,245 .
if the price breaking support level by open 4h candle below 19,926 easily to reach 19,811 and 19,620
TARGET LEVEL :
RESISTANCE LEVEL :20,088 , 20,245
SUPPORT LEVEL : 19,811 ,19,620