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Nas100: A breakout of the ranging market and bearish projectionHello traders, last week we saw buyers struggling to take price higher from 14000 psychological level. At the start of this week price broke below 13900 where price was held in a ranging state last week. At this moment there is high chances that we might see price continuing to decline. I will be looking for further developments and bearish confirmation for possible short positions with targets of 13400 and 13100. Traders, if you find this idea beneficial please support it with likes and comments. I'll be glad.
FX:NAS100Short
by Forexintelligence_NA
11
Nas100:Completion of recent correction and we might see a bounceHello friends, we back again. My previous expectations on Nas100 didn't go as I expected, instead price continued to decline. I had to take a closer look at it once more and also going deeper into the history of the index. Many times the index corrected itself deeply, that gave greater opportunity for investors and price rallied thereafter. Without surprise we saw the index bound up within a wedge formation from November 2021 and price had to swing up and down within the wedge. So what I present here is merely an idea and this idea or perspective is mine alone. You making investment decision from this should spring from your own choices and decisions. Looking back to recent history, we see that price corrected itself in January 2021 after a strong impulse (I), the correction wiped off at least 12.55% of the index gains. In April 2021, we see another correction which wiped off 8.23% of the index gains. In September 2021 the index corrected itself again wiping off 8.70% of it's gains. Looking at the recent correction, we see that Nas100 dropped with at least - 10.28%. Should we expect more decline? Yes, No? Please share with me your thoughts in the comment section below. Let's share ideas friends. Remember not to take mine as conclusion to invest. I have a feeling, that we could see Nas100 bouncing up around 15000-15080 level and that this could be the last bottom for January 2022, seeing that it has nearly reached the 200MA. If you like my thoughts here, please show your appreciation with likes.
FX:NAS100Long
by Forexintelligence_NA
4
Nas100: investors reaction will confirm its directionNas100 direction is quite complicated at the moment. We can only wait to see how investors will react as price is currently on a very strong support level. Even though there's no much clue of it's direction, I have noted some technical signs which might send price up. The past week we saw very strong impulse to the downside, which eventually was supported by the 50 moving average and below it is the 100 moving average. Price bounced up very strongly from the 50 moving average where price rallied up strongly with almost 6%. This rally was strong that to me it shows a sign of bullish momentum. Taking a closer look at the lower timeframe analysis, we do also see that it retraced down to a significant level which is not only offering as a solid support level but also a 38.2% fibonacci level. This level is known as an institutional level. We should not be surprised if we see a strong rejection on this level and price being pushed higher. On the other hand, a complete violation of this level to the downside, the only levels we should carefully scrutinise Nas100 is on the 50% and 61.8% Fib Level. I will only wait for good confirmation around this levels to give me good signs for buy opportunities with first target of 16400 and second target of 16757. Traders, I strongly advice that you make your own analysis before making any investment decisions. What you do from my idea should be from your own discretion and responsibility should be taken by yourself for whatever result springs from your own action. Otherwise if you find this helpful please do show your support with likes. Wishing everyone success in trading.
FX:NAS100Long
by Forexintelligence_NA
2
Nas100 Weekly Breakdown: Reading charts like a pro📈📉Hello friends, Today I have decided to share with you what I look for in the market and what helps me to predict market movements. In this idea, I have used Nas100 as an example. I am sharing this for educational purposes and also to shed light on the current market structures as well as future movement of Nas100. Some of you might find this beneficial and others won't. It doesn't really matters. Hahahaha. First of all, we see that Nas100 printed a head and shoulders pattern the past weeks. What exactly is a head and shoulders pattern? According to Wikipedia: "Head and Shoulders formations consist of a left shoulder, a head, and a right shoulder and a line drawn as the neckline. The left shoulder is formed at the end of an extensive move during which volume is noticeably high. After the peak of the left shoulder is formed, there is a subsequent reaction and prices slide down somewhat, generally occurring on low volume. The prices rally up to form the head with normal or heavy volume and subsequent reaction downward is accompanied with lesser volume. The right shoulder is formed when prices move up again but remain below the central peak called the Head and fall down nearly equal to the first valley between the left shoulder and the head or at least below the peak of the left shoulder. Volume is lesser in the right shoulder formation compared to the left shoulder and the head formation. A neckline can be drawn across the bottoms of the left shoulder, the head and the right shoulder. When prices break through this neckline and keep on falling after forming the right shoulder, it is the ultimate confirmation of the completion of the Head and Shoulders Top formation. It is quite possible that prices pull back to touch the neckline before continuing their declining trend." That make sense doesn't it? For a head shoulders pattern to be completed, it should have a left peak (shoulder), top peak (head), right peak (shoulder) and a neckline. A neckline needs to be broken (sometimes retested) to validate the pattern and to ensure that the next impulsive move is likely to occur. Let's look at the psychological human behavior behind the head and shoulders pattern (in this scenario, I will use the head and shoulders top like the one we currently see on Nas100). This will also help us to understand if this is a real head and shoulders or fake one (there can be fake ones that can give wrong signals, hahahaha). This will also help us to understand what really is in the in mind of traders both institutional traders and retail traders. Please pay attention to my two arrows label X and Y. X- Price rallied high and it did so strongly (the market moved very rapidly without resting and for sure people that bought during that time had big fat smiles😁). Now that is what we call an Impulsive Wave. Price pushed up, and from the neckline price began to take a break from a long run and it printed the Left Shoulder which can also be said as the higher high. Again, price pushed up and formed the head which can also be said as another higher high, this peak is higher than the previous high. Oops, that is the last time we saw buyers flexing their muscles. Sellers stepped in, pushing price to the neckline and from there buyers weren't strong enough to push price back to where they were brought from (head), instead sellers kept price at the same level as the left shoulder, which sponsored a strong reaction that violated the neckline and that became bears victory (a break of the neckline). What is next for us? Since the neckline has been broken, how far should the fall be? Now here is where we get different answers. Some would tell you, first impulsive wave I labelled X is a shadow of what is to come, meaning what we should expect is the same impulsive wave to be printed at point Y, same length as X. It can make sense to some but it won't be to others. Here is a thing, whatever makes money for you is all what matters. What other people think is basically none of my business (sorry)😁, As long as the money is made. Right? Yes! We do not want to blindly follow what is in the books, what is taught and what is on the internet. We need to develop the mind of understanding and interpreting the current price action in the market. If we can do so on our own, that is maturity. Look at the market like you would look at a friend, you would understand and interpret your friend's feelings and emotions, when he is sad and when he is happy. The market, this thing called the financial market is dramatic, but if we only sit and try our best to understand and of course interpret the current mood in the market we can reap some measure of success. Do you enjoy this article? Do you want me to share many of this? Show me you do by hitting that like button. If you find this boring please be kind to tell me why, I will improve. Wishing everyone the best this week. Forexintelligence
FX:NAS100Short
by Forexintelligence_NA
9