NAS100 DEC 23 -27 MARKET BREAKDOWNAnalysis Based on the Chart:
1. Bullish Context:
The overall trend is bullish, and the market has recently pulled back to a key support zone:
• The 50% Fibonacci retracement level aligns with both historical support and a daily bullish order block (OB).
• Price action respecting this level suggests a potential continuation to the upside.
2. Daily Break of Structure (BOS):
The BOS on the daily timeframe confirms a shift to bullish momentum, indicating that higher highs could be the next target.
3. Liquidity Sweep:
The sharp pullback appears to have cleared out liquidity (stop-loss clusters from retail traders) below the recent swing low. This is a common pattern before a bullish push.
4. Confluences for Entry:
• The pullback to the Fibonacci 50% level gives a high-probability entry point.
• The price has respected both dynamic support (trendline) and horizontal support at the bullish OB.
