US Nas 100Long
NAS100 │ 9 - 13 September 2024
- Daily timeframe [long term timeframe]
Swing structure remains bullish but as anticipated internal structure is pulling back to an origin demand zone. The question that remains now is whether this demand zone will actually hold price and eventually drive the market higher of is this the start of a bearish trend on NASDAQ?
· Bullish bias
- Four-hour timeframe [medium term timeframe]
The swing structure is bullish and internal is bearish, assuming that the internal is only facilitating for a pullback and we are approaching an area where the bulls might step in.
· Bullish bias
- 15-minute timeframe [short term timeframe]
All 15m structure are aligned with the 4h internal structure, further emphasizing the bearish price action that is presumably facilitating the daily internal and 4h swing pullback. At the time of this analysis we have not yet tapped into a significant demand level and should we, for whatever reason, see a reversal it would be at the break of 18516.3.
· Bearish bias
How do I come to a bias conclusion?
I look at the swing structure; if it is bearish, I conclude a bearish bias [vice versa]
©Austin Palmer for FONOS Fx, 2024.
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