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US 100 Cash CFD
Updated

NAS100 on Daily

1 070
Overall uptrend structure, price was forming a series of higher highs & lows. Price made a new higher high @ 18450, but failed to continue the uptrend impulse stage & sellers push price back underneath the previous all time high zone. Since then, sellers have now pushed price back & is currently invalidating the uptrend today by breaking the last higher low & support structure zone. If todays candle closes below structure, the next daily open, price may retest the previous support zone as new resistance on the lower timeframe, & shift the trend back to the downside. On the monthly timeframe, quite is a bit overextended with buyers, and a correction may be coming.
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snapshot 4 Hour: Potential scenario for tomorrow, looking for a retest into the major support structure zone as resistance on the lower timeframe for a continuaiton lower.
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snapshot Target 1 reached from retest zone, +100 pips
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15 Min supply zone correlated to the daily retest zone mentioned perfectly, where multiple rejections occured & price picked up volatility recently to push down into the next area of lower timeframe support. If price can build up more momentum & break the blue zone we can see a further push down.
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snapshot 4 Hour:
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snapshot Bearish scenario posted yesterday (photo under caption) playing out as anticipated so far, now we will see after this 4 hour close if bearish momentum will return & push price lower again.
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snapshot What a move, over 700 pips to the downside after the structure break & retest
Profound_Ambition
Supply and DemandSupport and ResistanceTrend Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Supply and DemandSupport and ResistanceTrend Analysis
Profound_Ambition

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.