Price roaming on the critical low support zone, more buys anticipation. Waiting for confirmation of the W bottom to pick more buys to the upside. Buying sentiments at hand, ghost feed anticipation price movement, on the 15 minutes timeframe to reach 1 hour timeframe W bottom.
Us Nas100 on a down trend with the series of lower lows and lower high. Targeting the previous low up trend, the orange line being the target. Guided by the daily trendline represented by the yellow line.
M formation created at the resistance area, sellers are getting ready to take the price lower to confirm a 3rd touch on a 4 hour timeframe grey rectangle. At the break of neckline of M formation looking to sell from there and possible adding more sell position as the price goes further lower. Let the price come to us before we react on sells.
Red stich represents...
US NAS reversing on the 15 minutes chart showing less bullish steam, watching for (2) pivotal areas to turn on the grey rectangle area or the blue line which also confirmed by the Fibonacci level 38.2. Anticipating a M formation back on the previous high, waiting patiently for the price to come to me and react.
Nasdaq headed to the resistance zone and currently testing the zone, waiting patiently for selling opportunities. Nasdaq has a tendency of creating M/W formations on the zones. Currently anticipating a M formation confirmation before selling, selling will results a confirmation on a 4 hour timeframe to have a 3rd touch and long term buys.
Price struggling to break lower as it supports the rectangle 4 hour zone, on 1 hour confirming with a double bottom and pushing price higher. Anticipating to buy at neckline of the double bottom and continuation to the upside. COT Data: Nasdaq also confirms the closing of short position and more long positions added.
Bounce of the 4 hour support zone red arrow confirming a 3rd touch with falling wedge on 1 hour. Also eyeing to confirm 3rd touch of the falling wedge, by a possible double top on the red arrow point up. Target for a possible reach of the above blue line. Neutral for now until the market turns to buying pressure.
Anticipating price to support bounce at the blue line and move back higher and break the 1 hour yellow line of a forming a falling wedge.
If it breaks the blue line it will then invalidate the 3rd touch on the blue line and go lower. But I'm much anticipating buying pressure on the red arrow to take price up as it looks like forming double bottom on 4 hour timeframe.
