This TradingView post showcases a technical analysis of the US100 (Nasdaq 100 Index) on the 4-hour timeframe. The chart highlights a well-defined ascending channel, reflecting the current bullish structure. Price action is seen retracing after touching the upper boundary of the channel, moving towards a key region of interest labeled as "IFVG" (Imbalance Fair Value Gap), where potential demand is expected.
The analysis predicts a retracement to the 0.618–0.65 Fibonacci retracement zone, aligning with a confluence of support levels within the channel. A potential bullish reversal is anticipated at this level, aiming for a continuation towards new highs near the upper boundary of the channel. The green projection line illustrates the anticipated path of price action.
This setup combines channel dynamics, Fibonacci levels, and market structure concepts to identify a favorable trade opportunity.
The analysis predicts a retracement to the 0.618–0.65 Fibonacci retracement zone, aligning with a confluence of support levels within the channel. A potential bullish reversal is anticipated at this level, aiming for a continuation towards new highs near the upper boundary of the channel. The green projection line illustrates the anticipated path of price action.
This setup combines channel dynamics, Fibonacci levels, and market structure concepts to identify a favorable trade opportunity.
Trade active
Its reaching for the fibonacci and lower channel boundary! If this hits a big uptrend is a plausible option.
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MY LINKS
📈 Free Signals
bit.ly/3YxiRXr
💬 Discord Community
bit.ly/4jHHA3O
💵 Favorite Exchange
bit.ly/4lBeTXt
📈 Free Signals
bit.ly/3YxiRXr
💬 Discord Community
bit.ly/4jHHA3O
💵 Favorite Exchange
bit.ly/4lBeTXt
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.