NAS100 | The continued rip and run
NAS100 has been on a beautiful tear to the upside. The question is can it still continue?
If so, the best price to continue buying above is 17,300.80.
Why this price?
This is where the buyers push price back up before continuing the increase of price up to 17,687.20.
Price has now pulled back to provide a discount in price once again.
For this discount to remain valid buying above 17,300.80 is sensible.
What needs to be seen?
The evidence buyers can come show themselves, basically, price action candlesticks.
We can see price pushed off of structure(green line) before increasing. Now price is back at structure.
Again, we will need to see if the buyers can push price back up.
And again, price action is going to be the evidence or entering the trade upon open with the belief price can rise.
As Van Tharp states in his book Trading Beyond The Matrix , " we don't trade the markets we trade our beliefs."
My belief is price can rise if price doesn't strongly fall below the lower price of 17,300.80. If it does, this trade idea will be invalidated.
Should you trade this?
If you share the belief price will rise? Yes.
If you do not believe price will continue to rise? no.
Let's keep it that simple.
Like and share this trade idea ❤️
Shaquan
If so, the best price to continue buying above is 17,300.80.
Why this price?
This is where the buyers push price back up before continuing the increase of price up to 17,687.20.
Price has now pulled back to provide a discount in price once again.
For this discount to remain valid buying above 17,300.80 is sensible.
What needs to be seen?
The evidence buyers can come show themselves, basically, price action candlesticks.
We can see price pushed off of structure(green line) before increasing. Now price is back at structure.
Again, we will need to see if the buyers can push price back up.
And again, price action is going to be the evidence or entering the trade upon open with the belief price can rise.
As Van Tharp states in his book Trading Beyond The Matrix , " we don't trade the markets we trade our beliefs."
My belief is price can rise if price doesn't strongly fall below the lower price of 17,300.80. If it does, this trade idea will be invalidated.
Should you trade this?
If you share the belief price will rise? Yes.
If you do not believe price will continue to rise? no.
Let's keep it that simple.
Like and share this trade idea ❤️
Shaquan
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