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US NAS 100

NAS100 Trapped Buyers?We can see price has broken the high and pushed back down. If this is a liquidity trap trapping buyers could be a potential. As seen above I have 2 zones of interest, if the higher zone is broken I can see the price easily pushing down to the 14500 area. We will need to check this on lower timeframes over the upcoming week and see if we have a true shift in structure across all timeframes which will once again give us more of a reason to believe it was a buyers trap.
OANDA:NAS100USDShort
by opes_trading_group
US100 NASDAQ Technical Analysis and Trade Idea NAS100Sharp Retracement in NAS100: Opportunity on the Horizon? Eyes are laser-focused on the NAS100 after it slammed into a key resistance level. The current aggressive pullback sets the stage for an intriguing dynamic ahead of the NFP data drop later today. A strong dollar boost (or unexpected weakness) could significantly impact the index, making this data release a potential swing point. With such a sharp retracement already underway, I'm eyeing a potential long entry as the price plunges towards a crucial support zone. In the video, we dissected the trend, price action, market structure, and other technical essentials to build a comprehensive picture. Remember: This analysis is purely for educational purposes and should not be interpreted as financial advice. Do your own due diligence before making any trading decisions.
CAPITALCOM:US100
by fxtraderanthony
Nasdaq Intraday Review – Friday 5 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am GMT Usually, I am looking exclusively for a buy because Nasdaq was bullish overall and trading with the trend is always a good idea. I believe this bearish pushdown is a big buy retracement on the D TF and not a trend reversal. During my analysis, I noted the following: Today was NFP. I usually don’t like trading during the day of a big news event. Often times markets are muted during the day with the true volatility coming with the news event. I entered a buy one minute before NFP came out – Confirmations: Market Pattern – Price had already travelled down the full distance equal to the height of the D double top. In theory, it is at this point that often market will reverse to test the neckline of the pattern. Fib: Price was just above the 0.618 fib level of the D TF (a very high and strong TF) S&R: 4H 200 EMA My NFP buy was at A. As NFP hit I was expecting a big reaction. However, market seemed quite unreactive. For 10min price was sliding down. I was very surprised and thought to myself that if NFP can’t turn this bearish retracement around, then price will fall a long way still. I have been taking small losses in the past few days, attempting to catch the correct reversal point. But these have been quite small losses and overall, I am not too sad about them because my risk management was pretty good. But in this moment, during the 10min after NFP, fear took over and I was not able to think straight. I didn’t want to take further unnecessary losses and I was fearful that market would slip down because even NFP couldn’t introduce bulls into the game. So, I closed at B. (right on the 0.618 D fib level). As I was writing this trade in my trade journal and I was documenting the reasons for entering the trade, I thought to myself that these are such strong confirmations and that I didn’t give my trade enough breathing room. I realized then I had been too quick to react (out of fear) and should have waited to see how the candles would react to the 0.618 fib level. So basically, keeping my trade journal highlighted to me that I had acted in fear and not rationally. I took a minute to think clearly what I wanted to do and knew I was prepared to put some money on the table for those strong confirmations, so I entered a buy at C. Overall, bulls pushed up from B. by 2400 pips – this could be the start of the bullish trend again, especially as we saw the day close with a green doji candle on the D TF. When I saw the weakness on the 15min TF after price had touched the 4H EMA, I closed half my position at D. I secured my remaining half position at entry and was hoping for market to continue pushing up to at least test the neckline of the double top on the D TF. But alas, we did not get there on Friday and candles spiked down to take me out at entry. But felt really good to make some pips (950 pips) for the day! Dealing effectively with emotions is one of the hardest parts of trading. Today, fear came into the game for me, but happy that my good habit of trade journaling helped me recognize this and that I still came out with some pips! What could I have done differently: Controlled my emotions better. Hope you had a good trading day! Catch ya on Monday! TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
Nasdaq Intraday Review – Thursday 4 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am GMT Usually, I am looking exclusively for a buy because Nasdaq was bullish overall and trading with the trend is always a good idea. Bears have totally dominated, with a push down of +- 7000 pips. I believe this is a big buy retracement on the D TF and am waiting for the reversal. During my analysis, I noted the following: A double bottom formed on the 1H TF (marked in purple lines). Market pushed up to break the neckline of the double bottom & temporary down trend line (marked in light blue). I entered a buy at A. – Confirmations: - Market Pattern: This was the 1st time that a double bottom formed on the 1H TF since the bearish retracement, indicating the growing strength of the buyers. Entered at break of the neckline - Fib: There was no buy fib level but there was some distance to travel to the 0.382 sell retracement (drawn at time I entered the buy and not as indicated on the chart now because swing low changed) so I felt there was enough distance for market to travel and secure my position at entry. - Candle sticks: Strong 1H momentum candle + first time we saw 2 green candles in a row close on the 4H TF, again indicating the growing strength of bulls. - S&R: Strong weekly and monthly support and resistance zone It was a risky entry because the pivot + 1H EMA were just above pushing down, so I entered 50% of my usual position size. Mental stop was place at thick pink line. 1H EMA proved too strong, and bulls were unable to break through. Took a 370 pip loss on this entry. Not sad about it because I feel it was a valid entry and worth putting some money on the table for. Bears push down further. Towards market open price was approaching the 4H 200 EMA (a very strong dynamic support zone) + the profit target of the D TF double top (marked by C. in bottom left corner – i.e., market will generally move the same distance as the height of the market pattern). When a double bottom formed on the 15min TF in this zone, I was very interested to enter a buy. However, just yesterday I said in my post “It’s ridiculous of me to think that its enough confirmation to enter a buy on a 15min TF (a very small TF). A 6000 pip bearish move will not come to a screaming halt on a 15min double bottom.” The difference now was that this pattern was forming in an area of confluence as opposed to just a random 15min double bottom anywhere in the charts. I chose to wait for the re-test of the neckline and entered a buy at B. as market was moving up again – Confirmations: - Market pattern: retest of broken neckline of a double bottom of the 15min chart - Fib: in the 0.50 fib zone on a D TF - Candlestick: inverted green hammer candlestick on the 1H (a potential bullish reversal signal) - S&R: in the zone of the 4H 200 EMA (a very strong EMA) - Trendline: none Mental stop was placed at thick pink line. I also placed a buy limit at the thick pink line as I really believed a bullish bounced would occur from this zone. Finally hit a nice buy with market moving up 1000 pips from my entry. Wanting to see a strong move up, I secured my position at entry and am trading risk free. What could I have done differently: I should have taken profit (closed a portion of my position at D.) D. represents the 5th time market tried to break this zone and on seeing weakness on the 15min TF, I should have secured some profit. Good luck if you are still trading! TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
US100 16396.9 +0.18 % MULTI TIME-FRAMES 🐮🐻Good Day Traders Here's a bit of a dive into the NASDAQ Multi time-frames out look. WEEKLY * Saw a sweep of some external range liquidity. * Strong Momentum Shift & a CHANGE IN STATE OF DELIVERY DAILY www.tradingview.com * The overall still bullish NASDAQ MIGHT just see some retracement into discount areas before continuation. * NASDAQ has a shift in the momentum towards bearish side in the form of Market structure shift on the daily time-frame. * looking for a possible bullish Day into Internal range Liquidity before continuation with the bears. * Retracement into internal liquidity would be great for possible shorts in coming weeks 4H www.tradingview.com * A bullish day highly favored today * looking for mitigations of bearish PD ARRAYS / INTERNAL LQ ABOVE BEFORE continuation. * Momentum post-ASIAN SESSION indicative as well 1H www.tradingview.com * Ext liquidity was taken WED NY-SESSION * just respected bullish FVG ON the hr. * A shift above the fractal High will indicate that we might close the week bullish lets see how it goes. IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ 9 AM ZAR TIME ICT SILVER BULLET EXECUTION Here is today's SILVER BULLET set-up which presented multiple entries. 1. Swept Asian highs and internal range liquidity 2. Aggressive momentum into the range. 3. 1st entry was an inversion FVG + BALANCE PRICE RANGE 4. 2ND entry classic ICT 2022 ENTRY MODEL 5. 3RD ENTRY REJECTION AT THE FVG Target > 1hr +FVG www.tradingview.com * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
CAPITALCOM:US100Short
by PULEMokhothu
Support zone: 16319.8-16579.4Hello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (DXY chart) DXY gapped above 102.089. A rise in DXY may indicate stagnation or decline in the investment market, or a transition to a recession. Accordingly, it is expected that the investment market will rise and become active only when it falls and remains below the 102.089-106.416 range. If it rises above 105.873-106.416, caution is needed as there is a possibility that the investment market may turn into a recession. --------------------------------------- (NAS100USD chart) (1M charts) In order to turn into a downtrend from a long-term perspective, it must fall below 15090.3. (1W chart) The HA-High indicator appears to be forming at the 16123.5 point. Accordingly, the key is whether it can be maintained above 15978.3-16123.5. (1D chart) As it fell below the MS-Signal indicator, it turned into a short-term downtrend. Accordingly, the key is whether it can receive support and rise in the 16319.8-16579.4 range. If not, it is expected to touch the M-Signal indicator on the 1W chart or around 15978.3. If the decline continues, the HA-Low indicator will rise. At that time, it is important to be supported by the HA-Low indicator and whether it can rise. If not, there is a possibility of a cascading decline that continues to renew lows. Have a good time. thank you -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 13401.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are points that are likely to encounter resistance in the future. We need to see if we can break through these points upward. Since it is thought that a new trend can be created in the overshooting area, you should check the movement when this area is touched. If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern. 1st: 43833.05 2nd: 32992.55 -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
OANDA:NAS100USD
by readCrypto
Nasdaq Intraday Review – Wednesday 3 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am GMT Usually, I am looking exclusively for a buy because Nasdaq was bullish overall and trading with the trend is always a good idea. But bears have totally dominated, with a push down of nearly 6000 pips. This could be a total trend reversal i.e. we move into a bear market. Or it could be a big retracement on the D TF (from swing low at A. to swing high at B.) Retracement levels marked with orange text. I believe it will ultimately be a retracement. A huge double top formed previously on the D TF (marked in pink). Market usually moves the same distance as the height of the pattern after the neckline is broken (marked by the pink vertical line). Yesterday we saw the D candle close below the neckline effectively breaking the neckline. So far today, the D EMA and D 0.382 retracement level has not been enough to stop the bears, and judging by the pink vertical line, market could still fall some way. I entered a small buy (10% of my usual position size) on a double bottom that formed on the 15min TM but closed soon after. What could I have done differently: It’s ridiculous of me to think that it's enough confirmation to enter a buy on a 15min TF (a very small TF). A 6000 pip bearish move will not come to a screaming halt on a 15min double bottom. There will be a double bottom or other market pattern formed on a much larger TF. Other than that, I just observed the market today. We are in a retracement zone….so not changing my bias to bearish until I can rule out a bull retracement. Learnt a lot from these past few days. My biggest lesson was the power and strength of double tops forming on multiple timeframes at the same time - as we saw today again (double top on 1H and 4H). If I had to enter a sell today, it would have been at C. (for an aggressive entry (0.618 sell fib level + respecting the 30 min EMA)) or at D. (break of the neckline of the double top). Good luck if you are still trading! TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
Nasdaq Intraday Review – Tuesday 2 Jan 2024I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am GMT Usually, I am looking exclusively for a buy because Nasdaq was bullish overall and trading with the trend is always a good idea. But I was considering just observing the market today as there is a fully formed Double top on a high TF (4H) + two red D candle closes + Nasdaq all-time highs. Bears have just been waiting for the sell at all-time highs, but bulls have proven to be very strong over the last two months. As the morning progressed, two double tops were forming on the 1H and 30min TF. However, when a double bottom formed, I entered a small buy at A. – Confirmations: - Market Pattern: Double bottom on the 1H TF. I entered my buy on the break of the neckline on the 30min TF - Trend line: Break of the temporary down trend line (marked in blue) - Fib: Double bottom formed at D 0.382 retracement level - Candle sticks: Long wick candles on the 4H TF Entered a position which is 20% of my usual position size, as I knew this was a risky entry (all EMA's + pivot point above my buy pushing down). Set a tight mental stop loss, marked by the thick pink line. If candles started closing below this point then neckline of the 1H double bottom was broken and market would sell. Bears pushed down and I took a 250 pips loss. Entered a buy at B. – Confirmations: S&R: Strong D level support and resistance S&R: D 20 EMA was at this level Fib: Bigger picture 0.382 D fib level I knew there should at least be a bounce at this level and I entered a small buy. I secured at entry after the market was +-250 pips up from my position, so I was trading risk free. Ultimately, market moved 850pips up from my position. I was expecting a bigger move up to at least the 30min EMA but market turned around quite unexpectedly (for me at least) and I was out at entry. This is also the time of day that I am not in front of my trading screens and I was monitoring periodically on my phone. What could I have done differently: I could have jumped on the sell train, but generally I don’t like to flip flop between biases. I have lost a lot of money in doing that and trading with the overall trend has become part of my trading rules. This massive bearish move may be a bigger TF retracement or it may be a trend reversal. Let’s see what the market has in store for us today. Hope you caught the sell! TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
✨ NAS100USD: ITF CURVE ANALYSIS (10H) ✨(DOWNTREND) SLO2 @ 16850 SLO1 @ 16555 TP1 @ 16000 TP2 @ 15530 TP3 @ 15185 TP4 @ 14650 BLO1 @ 14520 ⏳ BLO2 @ 14210 ⏳ ADDITIONAL INFO: 📉 Based on the Curve Analysis of the 10H chart, I'm anticipating a DT 🔑 BLO = BUY LIMIT ORDER ITF = INTERMEDIATE TIME FRAME SLO = SELL LIMIT ORDER TP = TAKE PROFIT Intermediate time frames (4 hours to 6 days): — Offer a clearer picture of the underlying trend compared to short-term frames. — Provide more opportunities for confirmation signals and technical analysis. — Allow for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
OANDA:NAS100USDShort
by ProfessorCEWard
Nasdaq Intraday Review – Friday 29 Dec 2023I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am GMT Looking exclusively for a buy, as Nasdaq is bullish overall – “The trend is your friend” Even though we are at all-time highs, I keep my bias bullish. So had my buy position C. open from yesterday. Market moved up 380 pips from my position and I secured my trade once price was +-250 pips from my entry (this means I placed an actual stop loss at entry). As market moved down from 4. - I was out at entry. Bulls were unable to break the 1H double top (pink) neckline at 4. (yesterday there were 3 attempts) and today’s fourth and final failed attempt led to the bears stepping in resulting in a market drop. Although I wasn’t looking for a sell, the sell at E. makes sense because (confirmations for this sell): Market pattern: Double Top market in pink lines with a neckline tested 4 times Double top (marked in orange lines) formed just above the pivot point on the 1H TF. Market broke the neckline and re-tested the neckline (pivot point) at E. and on failing to break, bears dominated. Ascending wedge (marked by grey trend lines) formed on the D TF and broken bearish (at 2.&3.). Once officially broken, price usually moves the same distance as the height of the pattern. The market coming up to test the neckline of the 1H double top for the fourth time can also be seen as a retest of the ascending wedge. Falling wedge (marked with green lines) + head and shoulders (easily seen on the 4H line chart) - as the day progressed a strong head and shoulders formed on the 4H TF. The neckline was sloping down, which makes it a more bearish market pattern. Candle sticks: yesterday closed with a red D candle, warning of a possible retracement on a bigger timeframe. I entered a buy at D - confirmations: Market Pattern: This was the very limit, the tipping point, of a buy. If bulls were going to step in it would be to prevent the neckline of the 4H head and shoulders from breaking bearish. There was also going to be the re-test of the neckline of the orange Double top and I like being part of the re-test in the same direction as the overall trend, bullish in this case. S&R: 4H EMA providing some dynamic support Fib: This level represented yesterday’s 0.618 fib level – a strong fib level Candlesticks: A doji formed on the 1H TF This was a risky setup so I set a super tight mental stop loss, marked with the thick pink line. If candles broke this level Nasdaq would sell with momentum. Bears dominated and I took a 200 pip loss. I’m not sad about this, it was a calculated risk. Ultimately market dropped like a stone, crushing my hopes of a Santa Rally and taking out my other position that I tried to swing till 3 Jan 2024. I hope you caught the sell! It was a stunning ~2000 pip move and you would’ve ended the year with some nice profit. What could I have done differently: I’m happy with my risk management and how disciplined I was at securing my trades at entry. I would never have taken a sell because my bias was bullish, but we will see what happens in 2024! All the best for the new year! Hope all your (and my) trading dreams come true! TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
Nasdaq Intraday Review – Thursday 28 Dec 2023I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Did my analysis at +- 5:20am GMT Looking exclusively for a buy, as Nasdaq is bullish overall – “The trend is your friend” Even though we are at all-time highs, I keep my bias bullish. At time of analysis, I noted the following: Early morning market had pushed up and by the time I was doing my analysis, price was consolidating in the blue circle. At 7am GMT, the 4H candle closed a red hanging man candle, warning of a potential bearish push. On the 1H TF, a double top market pattern started to develop. Neckline and potential move down (i.e. the same distance as the height of the pattern) if neckline was broken indicated with pink lines. My morning fib was drawn from swing low at D. to swing high at E. and retracement levels written in blue. I was cautious of a bearish pushdown and so entered half positions to see how price reacted. Also noted that fib levels were relatively close together meaning that potential draw down / loss would be manageable. Entered half a position buy at A. and then a few minutes later half a position at B. – Confirmations: S&R: 1H 20EMA dynamic support. On the 5min TF, a doji candle formed at this level indicating that perhaps the EMA would provide support. But 5min TF is not very strong and this was weak confirmation – hence half a position. Trendline: Market was near the bottom uptrend line of ascending wedge on the D TF. This trend line had been respected multiple times before. Fib: none (kinda close to 0.382 level so these positions represented my aggressive shallow retracement entries) Candle stick: there was a long wick green candlestick rejecting this level that formed on the 30min TF, that closed above the 1H neckline, indicating strength of buyers. Market pattern: Usually market moves the same distance down as the height of the double top. And I like being part of the re-test of the neckline that is in the same direction as the overall trend. Mental stop was placed below the 0.618 fib level where the 4H EMA would also have provided a bullish push up. If candles started closing past this point, then my buy would be invalidated. Ultimately, buyers were unable to break through the 1H double top neckline and bears stepped in to create a big retracement move. I entered a full buy position at C. – Confirmations: S&R: pivot point Trendline: Ascending wedge trendline had been broken bearish, so this could potentially be a breakout from the wedge and could lead to a massive bearish move. So extra risky here. But I had confidence that market would at least re-test this trendline. Fib: C. represented a level between the 0.50 and 0.618 fib level. This was my last position and I would not have entered again at the 0.618 level. I preferred to take a draw down if market continued to move down. What makes trading Nasdaq so hard is the extreme volatility and long candles spikes. We saw just yesterday how market only touched the pivot point and then flew up. Candle stick: Before I entered at C. there was a long wick candle that touched the pivot and closed above the 0.382 fib level, giving me confidence that buyers were rejecting this level. Market pattern: none So now I was in a risky position with 2 buy positions in a market that was temporarily bearish. I knew that I wanted to close my A. and B. positions as soon as market moved up so I set a take profit at entry for both. Going to sleep with 2 buy positions and a red day candle close was stressful. But luckily market has moved up the next day and my positions automatically closed at entry and now I am left with my C. position. In these types of situations you must control greed, because on the 1H TF where the red dots are marked, you can imagine that the 1H candle was fully green at a point in time (where it is now a spike) and you see the momentum with which the candle is moving, so thoughts come into your mind like “imagine market continues to move up and then I have 2 buys open – Cha CHING!!! Let me remove my automatic take profits”. But the bottom line is that it will take a big bullish push to break that neckline and market can easily turn down again (ascending wedge trendline was broken bearish after all). So one has to consider rationally how much risk you are willing to take and not act in greed. My C. position is now secured at entry and I’m hoping for a strong move up! Good luck if you are trading! TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
Nasdaq Intraday Review – Tuesday 26 Dec 2023I trade Nasdaq intraday exclusively Trading in GMT time zone Sharing my post day review & analysis in case it can help you :) Back from Holidays and time to TRADE! Did my analysis at +- 5:20am GMT Looking exclusively for a buy, as Nasdaq is bullish overall – “The trend is your friend” Even though we are at all-time highs, I keep my bias bullish. A true trend reversal will come with a double top market pattern on a high TF (i.e once a double top forms on the D TF, then I will consider a bearish bias). Plus we are at the bottom of an ascending triangle on the D TF marked with grey trend lines. At time of analysis, I noted the following: A doji candle on the D chart had formed from previous day. Gap up on the day chart at market open this morning – indicating bullish presence. A double top had previously formed on the 1H TF (yellow circle) and broken the neckline bearish. On the retest of the neckline (in the same direction as the overall trend i.e. bullish) the bulls broke the neckline as well as the pink temporary downtrend line + gap up. There was a retest of the pink downtrend line + neckline at A. with a red candle and bulls pushed back up. I entered a buy at B. because on my smaller TF’s it looked as if the candles had broken the strong resistance + temporary orange downtrend line. Turned out to be a glitch on TradingView (seemed the trendline was incorrectly positioned on the lower time frames even though correct on the bigger TFs?) and as you can see at B. the orange trend line was not broken. I was convinced that if the resistance + orange trendline the uptrend would continue. I also admit to being additionally biased due to the apparently impending “Santa Claud Rally” and a slight case of FOMO. Market however turned down. I recognized my weakness in entering this buy (emotional trading) and immediately set a take profit at entry so that if market moved up it would close this position. Even if market continued to move up and past this position, I didn’t deserve the profit from this buy because it was not executed professionally (in my opinion) and I don’t want profit from being lucky. I entered a more reasonable buy at C. – Confirmations: - Market Pattern: Double bottom formed on the 15min TF and entered at the break of the neckline at C. - S&R: Market was rejecting a D S&R line (marked in grey) + 1H EMA was acting as dynamic support - Candles and Fib: The red candle on the 1H TF before the C was a longwick candle rejecting the 0.618 fib level of a short-term Fib drawn on the 1H TF from swing low at D. to swing high B. Mental stop was placed at thick pink line, below 4H 0.618 retracement level, where trendline and 4H EMA converged. Meaning that if candles started closing below this point, then my buy would have been invalidated. I would also have added another position if the market went down this far. Endured a draw down of 315 pips, but ultimately bulls pushed up at market open and at time of writing this, market moved a max of 915 pips up from my position. Take profit plan: Want to test this “Santa Clause Rally” theory. It is define as a bullish rally in the last 5 trading days of the year and the first 2 trading days of the new year. So I will keep this position running and close +- 3 Jan 2024. I am secured at entry (actual stop loss placed at entry), so I am trading risk free and will see how far market will rally. What could I have done differently: No let emotions and FOMO come into my trading as evidenced in my first buy. I got lucky and the position was closed at entry as market moved up and my mistake did not lead to a loss. Good luck if you are still trading! :) TF = timeframe TP = take profit 1H = 1 hour 4H = 4 hour D = day W = week M = month S&R = support and resistance EMA = exponential moving average
PEPPERSTONE:NAS100
by Jinxx84
NAS100USD Will Go Up! Long! Here is our detailed technical review for NAS100USD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 16012.0. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 16278.2 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
OANDA:NAS100USDLong
by SignalProvider
1