Nasdaq 100 E-mini-Futures - D1 - MAJOR DOUBLE TOP IN PROGRESS !
M1 : Still, for the time being in an ongoing uptrend channel.. but long black
candle in progress should be seen as a first warning signal of a trend reversal
in progress which should of course be confirmed on M1 closing at the end of May.
W1 : Under the influence on a major double top formation in progress with its trigger
level @ 12'207; if activated target is @ 10'350 roughly the bottom of the W1 clouds support
area
D1 : A secondary double top has been confirmed and the target has already been reached.
In addition, we can see a switch mode from bullish to bearish with a new downtrend which
took place from the double peak @ 14064 !
Currently below MBB anf the cluster TS and KS
Nest significant support in this time frame is around the 13'000 area. Warning have a look
at the thickness of the clouds which is very thin around 13'000 = fragility !!!
Below 13'000 focus will be on 13'600, low of March 25th.
H4 : Below the clouds and below all MBB,KS and TS
In order to neutralise the ongoing bearish pressure, we need to see a sustainable recovery, at least
above 13'600/13700 (clouds resistance area !)
H1 : Below the clouds. Watch MBB as indicator
M30 : Below the clouds too, also watch MBB
M15 : same than H1 and M30, watch also MBB
M5 : Recovery, corrective attempt, facing already the clouds as first resistance area
CONCLUSION :
SWITCH HAS BEEN DONE FROM A BULL TREND TO A BEAR ONE.
Therefore, it is not anymore a buy on dips mode but a sell on rally
candle in progress should be seen as a first warning signal of a trend reversal
in progress which should of course be confirmed on M1 closing at the end of May.
W1 : Under the influence on a major double top formation in progress with its trigger
level @ 12'207; if activated target is @ 10'350 roughly the bottom of the W1 clouds support
area
D1 : A secondary double top has been confirmed and the target has already been reached.
In addition, we can see a switch mode from bullish to bearish with a new downtrend which
took place from the double peak @ 14064 !
Currently below MBB anf the cluster TS and KS
Nest significant support in this time frame is around the 13'000 area. Warning have a look
at the thickness of the clouds which is very thin around 13'000 = fragility !!!
Below 13'000 focus will be on 13'600, low of March 25th.
H4 : Below the clouds and below all MBB,KS and TS
In order to neutralise the ongoing bearish pressure, we need to see a sustainable recovery, at least
above 13'600/13700 (clouds resistance area !)
H1 : Below the clouds. Watch MBB as indicator
M30 : Below the clouds too, also watch MBB
M15 : same than H1 and M30, watch also MBB
M5 : Recovery, corrective attempt, facing already the clouds as first resistance area
CONCLUSION :
SWITCH HAS BEEN DONE FROM A BULL TREND TO A BEAR ONE.
Therefore, it is not anymore a buy on dips mode but a sell on rally
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Related publications
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.