I`m just a simple trader , A student of RICHE TRADING. but ive done an intense top down analysis on NAS100USD.
my confluences for this trade is based on the following.
MONTHLY : in december 2021 nasdaq turned bearish, leaving a lot of liquidity behind that took 1 year and 10 months just to fill. that same liquidity was used to allow price to fill the imbalance area around @15525 which is also a supply zone , that nasdaq is reacting out of...
WEEKLY : while nasdaq was trading to wards that monthly supply , it did leave behind a demand area from @14675, but according to my strategy, we trade the orderflow from demand/supply areas. this demand area however did fail to create new MARKET STRUCTURE, which now indicates to me that price is now reacting from the supply zone from the monthly and not the weekly.
DAILY : today is the 23rd of october 2023.... last week`s price action was aggressively bearish , breaking key levels, that price was suppose to react from demands and continue to push price up , so this than supports my bias that nasdaq might tank.
disclaimer, imm just a simple intra day trader but i do understand price action on each and every time frame and how price is supposed to correlate with one another... im publishing this with the pure intention of recording my growth as a trader, and also if this S**** plays out, i wanna be one of the traders that was able spot this while everyone else wasnt focusing on the bigger picture... you know , a be a GOAT
but regardless, trend is your friend , orderflow is key and trading is about building the life you want for yourself so keep taking your profits... its all just for fun whether this plays out or not , im still profitable
my confluences for this trade is based on the following.
MONTHLY : in december 2021 nasdaq turned bearish, leaving a lot of liquidity behind that took 1 year and 10 months just to fill. that same liquidity was used to allow price to fill the imbalance area around @15525 which is also a supply zone , that nasdaq is reacting out of...
WEEKLY : while nasdaq was trading to wards that monthly supply , it did leave behind a demand area from @14675, but according to my strategy, we trade the orderflow from demand/supply areas. this demand area however did fail to create new MARKET STRUCTURE, which now indicates to me that price is now reacting from the supply zone from the monthly and not the weekly.
DAILY : today is the 23rd of october 2023.... last week`s price action was aggressively bearish , breaking key levels, that price was suppose to react from demands and continue to push price up , so this than supports my bias that nasdaq might tank.
disclaimer, imm just a simple intra day trader but i do understand price action on each and every time frame and how price is supposed to correlate with one another... im publishing this with the pure intention of recording my growth as a trader, and also if this S**** plays out, i wanna be one of the traders that was able spot this while everyone else wasnt focusing on the bigger picture... you know , a be a GOAT
but regardless, trend is your friend , orderflow is key and trading is about building the life you want for yourself so keep taking your profits... its all just for fun whether this plays out or not , im still profitable
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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.