**Yearly Chart**
At the beginning of each year, I like to see the yearly candle and see how it closed in relation to the previous year's candle.
US100 (NAS) 2023 opened near the low of the 2022 candle at 1.0673.60 and closed aggressively higher at 16812.30 after making a new historical high. The candle closed bullish and it shows the amount of liquidity in the market during 2023. This also indicates the amount of opportunities that were available in the market for traders. This year candle opened near the high.
**Monthly chart**
Moving into the monthly chart we can see the market is in a bullish trend and made a new swing high which is currently tested. I will be looking for any good opportunities to buy at bull back as long-term bias and sell at retracement (Counter trend - short term).
**Weekly Chart**
The chart shows a good upward trend with cyclicity and a nice trend after it bounced from Dec 2022 low and provided good trading setups which I am expecting will resume for this year as well.
**Daily Chart**
There might be a counter-trend trade if the price is unable to break the high at 17000 level (round number + Key area) but I would prefer to wait for a good trend-based setup to form in the coming weeks below 16000 level.
At the beginning of each year, I like to see the yearly candle and see how it closed in relation to the previous year's candle.
US100 (NAS) 2023 opened near the low of the 2022 candle at 1.0673.60 and closed aggressively higher at 16812.30 after making a new historical high. The candle closed bullish and it shows the amount of liquidity in the market during 2023. This also indicates the amount of opportunities that were available in the market for traders. This year candle opened near the high.
**Monthly chart**
Moving into the monthly chart we can see the market is in a bullish trend and made a new swing high which is currently tested. I will be looking for any good opportunities to buy at bull back as long-term bias and sell at retracement (Counter trend - short term).
**Weekly Chart**
The chart shows a good upward trend with cyclicity and a nice trend after it bounced from Dec 2022 low and provided good trading setups which I am expecting will resume for this year as well.
**Daily Chart**
There might be a counter-trend trade if the price is unable to break the high at 17000 level (round number + Key area) but I would prefer to wait for a good trend-based setup to form in the coming weeks below 16000 level.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
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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.