NAS100 - Is A Reversal In Play?
Updated
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Possible breakout of upwards trend
- Short term downwards trend
- Retesting a previous key level
- 61.8% fib retracement level touched
- In a descending broadening channel
- Downwards trendline touch
- 4K long position increase for the USD
Bullish Confluences
- Long term upwards trend
- 4K short position increase for the USD
- Recent USD news has been bearish
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active
Our entry criteria has been met and our order has been filled. We are short looking for a reversal and with the upcoming news this week for the USD this could be likely.Trade closed: target reached
Trade Closed
(+3.60R) Made
After Trade Comments:
This was a lovely trade that closed last night in a very decent profit. To begin with things weren't looking good as we almost got stopped out, however we saw that price wasn't able to break above our area of resistance which was a good sign. We trusted out plan and let our edge playout which resulted in us catching this move. Recently we've seen the USD become stronger and stronger as each week went on which really helped out trade out. Overall this was a great trade to catch and it shows the importance of trusting your strategy and letting that edge playout. With that being said lets see if we can catch some more moves like this!
Stay Safe - The JPI Team
Disclaimer
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