Short
US100 Nasdaq Forecast: Short then long
Bear Flag pattern on 1H chart
Will the pair respect this pattern?
In our previous analysis we were long on the pair
& expected it to reach 13300, however the bears were in charge and drove the pair to lows of 12800
Triggering our Sell Stop & hitting our TP @ 12900
WHAT TO EXPECT:
Currently pair is facing some downward pressure thanks to a very bullish DXY
Downward pressure might be limited as a bearish harmonic is forming on the DXY chart suggesting possible reversal
Nasdaq might test lows of 12500 before a reversal to the upside if DXY continues being bullish
Expect some Downward pressure on the pair when the US Markets open
OUR POSITIONS:
Buy Stop @: 12900
Buy Stop TP @: 129500
Sell Stop @: 12700
Sell Stop TP @: 126500
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Will the pair respect this pattern?
In our previous analysis we were long on the pair
& expected it to reach 13300, however the bears were in charge and drove the pair to lows of 12800
Triggering our Sell Stop & hitting our TP @ 12900
WHAT TO EXPECT:
Currently pair is facing some downward pressure thanks to a very bullish DXY
Downward pressure might be limited as a bearish harmonic is forming on the DXY chart suggesting possible reversal
Nasdaq might test lows of 12500 before a reversal to the upside if DXY continues being bullish
Expect some Downward pressure on the pair when the US Markets open
OUR POSITIONS:
Buy Stop @: 12900
Buy Stop TP @: 129500
Sell Stop @: 12700
Sell Stop TP @: 126500
link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Note
Buy Stop TP @: 12950Sell Stop TP @: 12650
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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.
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.