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Top100

N1We had some good trades. WEEKLY We've pulled back and had some interesting price developments. Moving towards more of the structure we see and prefer price to get to. DAILY We had an evening star at the top of this correction structure which is what gave us more evidence to move towards the downside. The pullback is giving us a different story and we need to take what the price is giving us in order to plan the next move. 4H We've had multi touches within our correction and we had a very strong doji where price tested but could not break. 1H Stay waiting.
PEPPERSTONE:NAS100Short
by Mhangwane1
N1We had quite a few trades in the past week, but we were either too early so we taken out or in too late so we took short profits. WEEKLY March we had the peak of price, first time in it's history (18400). When we look left, whenever price peaks it drops for quite a bit before it goes back up. So we can assume we might see 16000 again. DAILY We just have an ascending channel within a bullish trend so we can assume that the overall demand is up. The DXY will give us more clues as to what can happen, American countries as well need to be monitored for new IPO's and their financial year results to get more information. This will add to our portfolio of evidence. We can see we are in the correction phase, but because it's so deep we can expect it to go further down for quite some time. 4H In the bigger correction, we're in a smaller correction. So the assumption is that price is going down. We are not children of the market so the assumption is just that, an assumption not the forecast. We still need more candlestick confirmation and pattern formation before making a final forecast. 17600, is an area of interest as this is where price will do something unless it breaks right through. 1H We are struggling to break 17800, so we know that it is a strong resistance level. NFP being this week does not mean that we have to trade, it means we need to make informed decisions based on news and reports.
PEPPERSTONE:NAS100
by Mhangwane1
NAS100We were triggered and stopped out but we did fair. DAILY Kept falling and dragging down and tested around the support level, 17070 around here. We have a test candle which shows that our test level was correct. 4H Price is testing again (in correction) so we stay waiting and watching for either the break (impulsively) or the reversal impulsively. This is where we will get more information to lay forward our case. 1H Reject before 17500 is where we would believe that our correction has ended, break through here means we wait even more.
PEPPERSTONE:NAS100
by Mhangwane1
N1DAILY We still in a bull trend but in the corrective phase of the bull trend. 16900 area is where we want to see action. The last support as all others are broken right through. We formed an expanding wedge going up and was broken, the retest here will let us know it's fate. 4H We formed a "flatish" flag, which is the correction of the current trend (bearish). Broke it and we are correcting once again, so we should anticipate the completion of the correction to come with an impulse. My idea has it collapsing further to 16965, around here we'll gain momentum. 1H A mentor of mine says trade the market ugly. Ugly is definitely is all I see. Waiting for the impulse candle to kick in and drive the supply.
PEPPERSTONE:NAS100Short
by Mhangwane1
N1DAILY 18346, is our beautiful price of interest. We peak above and just below it. There it is a point where we will determine our next move. 18000, being the bounce price and now we are heading to our price of interest. We are anticipating a high yield tomorrow but we are not certain it won't fake out few times before the certain direction. 4H Double bottom and finally price has brought itself up to where the previous strong impulsive candle started, 18255. Which shows just how strong the bears pushed the bulls over the hill. Stay watching and waiting. 1H High highs and high lows but now we get around 18250 and we slow down again (resistance), we possibly could just melt again here before coming back up. Candles as well have short bodies and short wicks, indicating a high reversal chance. -Nas consolidation does not usually last long because there is volumes of volatility always. 15Min Break of 18210, I will look for sell opportunities
PEPPERSTONE:NAS100
by Mhangwane1
N1WEEKLY Highest high, peak, top price. 18467, we bouncing around these areas and that is indication of more bulls to come. For now it's first a matter of getting momentum to go. DAILY 18300 being the strong level of rejection with wicks all over the place is signs of reversals we would anticipate them going down and falling hard. 4H Aiming down, possibly to 17900. But it's not conclusive as all the slowing down (wicks, spinning tops, dojis) all show reversals of current price and rejection so we'll wait. 1H Bounce of 18180 will give us the idea we need for the next move. 15Min Bad trade idea so rather stay waiting
PEPPERSTONE:NAS100
by Mhangwane1
N1Sum of the averages within the blue boxes and that is still what I am seeing. I had a great long last week but was taken out by the SL in profit, yet it went the full direction of the forecast. We seeing a flag forming that is slightly bearish, which would allow us to place buy stops just above and a SL below the flag low, but this is the high price Nas has ever hit. So from my own observation and backtesting, before it goes through a high again. It will drop and gain momentum and spend 3-5 days pushing further up or collapsing before finally going in the obvious direction you had set out. Trade Idea : NONE sit your ass in that chair and stay patient
PEPPERSTONE:NAS100
by Mhangwane1
NAS100Bounced off 16200, which was last a support in DEC 2023 and a resistance (High) in NOV 2023. Therefore level of significance 4H * Bullish engulfing candle of the low - doji followed and a possible hanging man - dive deeper for more info 1H * Bounce 3 times at 16425 : which usually is the beginning of an expected breakout - there's a potential 4th touch - next directional move will determine our stance - close above 16250, could be a change in direction - close below 16200 with a rejection (new high) of this level will be continuation to the downside. 15Min * compact candles, from impulsive break. - will impulsively open Verdict - The possible trade there is highly risky, bad RR and just placed with no expectation - WILL NOT BE TAKING THE TRADE - Waiting for better information on the market
PEPPERSTONE:NAS100
by Mhangwane1
NAS100There isn't much I can say or do. This is a missed trade from my eyes, it followed what my alternate view from US30 showed. It just happened earlier. Right now any trades I can get from here will not be the most optimum RR but will still be worth the risk just probably not scalp traders. It is heading for 16600 * 3 touches up, 3 touches down. In the channel its been in * It broke the channel and retested * continued downwards * rejected 16865 (Showing the direct, downwards) * wait for opening to get last confluence before looking for sell entries TP1 = 16760 TP2 = 16680 TP3 = 16600
PEPPERSTONE:NAS100Short
by Mhangwane1