NasdaQ Climax ! Long Outlook
Updated
Hi friends and Trading community, So here i am sharing mine trading Idea on Nasdaq 100, So as we can see on provided chart price breakout from a symmetrical triangle pattern and a horizontal resistance too at the same time so after the both resistance breakout now price trading on very strong resistance area from where it got rejected in the year of 2021 after the breakout of same horizontal resistance after consolidation and now again reached near to that rejection zone.
So from here it must remain to be seen whether the price will break that resistance and able to close above or not? if this happens we can see price can touch to marked targets on provided chart.
Target ideantification-:
Target one 6% - I meausured from the distance between horizontal resistance to main rejection area which we can see after breakout.
Target two 12% - Pattern based which i measured from triangle height (horizontal resistance) to swing low rising support of triangle.
Rest i will update this accordingly on the basis of price action whether on daily or weekly chart.
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
“Hope is a bogus emotion that only costs you money.” -Jim Cramer
So from here it must remain to be seen whether the price will break that resistance and able to close above or not? if this happens we can see price can touch to marked targets on provided chart.
Target ideantification-:
Target one 6% - I meausured from the distance between horizontal resistance to main rejection area which we can see after breakout.
Target two 12% - Pattern based which i measured from triangle height (horizontal resistance) to swing low rising support of triangle.
Rest i will update this accordingly on the basis of price action whether on daily or weekly chart.
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
“Hope is a bogus emotion that only costs you money.” -Jim Cramer
Note
Yesterday price closed above reistance and today now in the mid of session it is sustaining above very well above resistance and gaining bullish strength above all time high resistance, I assume one two more session closes above resistance will provide more strength to this breakout towards target or a breakout retest matesNote
It was a not a very bullish closing above resistance but somehow price managed to close above resistance zone friends and it is a all time high close too with highest weekly close ever soon we can see highest monthly close too so this price action can give more strength to price in coming week, i assume that after this closing must have been some nervousness there in sellers or some may have given up shorting idea now for sometime matesRetest view (Daily Chart)-:
A short breakout retest also done there, quite possible price went there for liquidity grab
Note
Hi mates sharing an important update based on price action in this update we can see that price not able to close above 16840 levels after published breakout on weekly chart mates but in today's session price sustaining above very well from resistance and most likely we will got a close above on resistance so if it will close above that resistance we can see fresh momentum as it is trading on all time highs too. Rest you can understand by the update above.Note
Yesterday price marginally closed above swing top closing based resistance which recently it made after publishing this idea and now seems in fresh momentum as it is trading on new all time highs mates so we can expect that this momentum will sustain and soon we can see marked targets on chart in coming sessionsNote
Usually i don't favor so much frequent updates to any of my publications but now updating this related to update above as i mentioned in above that it price showing fresh momentum and more than half way of first target is completed and having bullish strength too mates. Some shorts trades might got trapped on swing highs mentioned above as they assuming it will make a double top and will fall after but i think they neglect many indicators and factors too for their assumption, Sharing mine chart below Note
Target Update-:Target 17650 levels complete from 16650 levels which was measured target of 5.97% from there after published, So now from here as we can see on daily or weekly charts that price is forming higher bottoms with retest it's earlier resistance as support and getting strength too as trading all time highs soon we can see second measured target too in coming sessions mates. Thanks for reading and supporting my idea friends.
Note
Hi friends and trading community so i am sharing an update after completion of marked target one, So as we can see that after hitting the marked target of 17650 price took resistance nearby that levels and did not managed to close above after too many attempts but in last trading session it closed above that resistance marked on this update and now doing well and marching towards final marked target of 18700 levels. Hope this fresh breakout will give more strength to the published breakout.So far it reached to 17800 levels from 16700 levels and trade is going good in wanted direction.
Note
Happy to share one phycological of 180000 levels friends first time in history with all of you friends it reached here 18000+ from 16700 levels.Trailing stop loss update-: So now this last and final update for this publication that i am taking 50% gains from my overall trade positions and rest i will trail stop loss on entry prices near about 16700-16800 levels and hoping that i will see mine final marked target before that i got trailing stopped out mates.
Thanks for reading and supporting my idea friends it is much appreciate
Note
So first of all i want to congratulate in advance that today we can see a close above 18000 (phycological digit) first time in history and thinking that all bulls are feeling happy by seeing the bullish candle today.So now come to the point of update that we can see that today price is breaching a strong resistance area which was the highest price after this publication so now i assume if it will close above that resistance we can see marked final target on chart very soon and this closing will give strength to price as support earlier was resistance.
One more last update for this idea i will do on the completion of final target of 18600 levels, Reached 18280 levels from 16650 levels, Cheers !!
Note
Hello friends, mates and trading community so i am updating this publication after many days as i observed that i plotted a rising trendline in update above for higher lows so now after the previous swing high price exactly took support form that trendline and again made a higher low and now breaking that previous swing high too so if price will close above marked closing based resistance as seems the probabilities are high too today we can see the final mentioned target for this idea very soon. This trading idea worked very well for me reached 18400 from 16700 levels. Thanks for reading and supporting my idea !!Trade closed: target reached
Price reached 18700 from 16700 on the marked last and final target mentioned on published chart, So closing this idea completely although it is a fresh breakout sustaining above previous made swing high so i will publish a new idea whenever it's possible clsoing this one, happy from target cheers. Thanks for reading and supporting my idea mates
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