Next move will be determined by how price react on this level
Traders, let's discuss a little bit of the technical aspect of Nas100.
First we see the support swap resistance zone that of course was a strong support in the past. This level kept price above it since December 3rd, 2021. We also see that the market bounced up on this level on 20 December 2021, a bounce up that created a cup shaped pattern and on 10th January 2022 we see a correction that created a handle and eventually price broke out to the downside.
The structure which is being created now can be a possibility of the same previous patterns we saw-Cup and and handle. Right now I do not want to make so much assumptions, since this structure is not yet completed. For it to be completed of course I want to see some sort of correction which may give me confidence to determine another long direction.
Congrats to everyone that followed my previous idea, we were able to reach our first target with 385 points (2.59%).
🔹Previous Idea:
🔹Outcome:
Again, each one use his/her own discernment as my ideas are not the final for one to invest based on them.
Feel free to share your thoughts and opinion in the comment section below. Let's all learn from each other.
First we see the support swap resistance zone that of course was a strong support in the past. This level kept price above it since December 3rd, 2021. We also see that the market bounced up on this level on 20 December 2021, a bounce up that created a cup shaped pattern and on 10th January 2022 we see a correction that created a handle and eventually price broke out to the downside.
The structure which is being created now can be a possibility of the same previous patterns we saw-Cup and and handle. Right now I do not want to make so much assumptions, since this structure is not yet completed. For it to be completed of course I want to see some sort of correction which may give me confidence to determine another long direction.
Congrats to everyone that followed my previous idea, we were able to reach our first target with 385 points (2.59%).
🔹Previous Idea:
🔹Outcome:
Again, each one use his/her own discernment as my ideas are not the final for one to invest based on them.
Feel free to share your thoughts and opinion in the comment section below. Let's all learn from each other.
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