Ustech100
Nasdaq Sell.💡NASDAQ TRADE IDEA: noticed something about Nasdaq recently so if it goes into this sell zone I’ll feel quite confident to go short, only issue is the recent China and US trade talks. But I believe Moderna and Tesla will rally us up to this point, thereafter we will look to go short to TL.
NASDAQ100 I Believe Nasdaq100 will go for a quick short before breaking thru the resistance level, the reason for saying so is Nasdaq100 has formed a strong support trend line and I predict it will retest that support trendline before breaking thru the horizontal resistance level. So I believe we can go for a quick short before going for the money-making long. Before entering the short make sure that you have confirmation that supports my idea.
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ALPHA CAPITAL WEALTH SOUTH AFRICA - #NASDAQ 100USING THE FOLLOWING :
FIBONACCI / HEAD AND SHOULDERS / BAR PATTERN, WE HAVE ESTABLISHED THAT WE CONFIDENTLY CAN SEE PRICE REACH 11120.00
THE LAST CONFIRMATION I USED WAS THE GANN FAN TOOL.
TAKING THE SWING HIGH OF 21 JULY 2020 I USED THE 45 DEGREE TO ESTABLISH THE GANN FAN POINT AND ALIGNED THE 1/1 OF THE GANN FAN.
USING THE LOW OF 24 JULY 2020 I USED THE 45 DEGREE TO ESTABLISH THE GANN FAN POINT AND ALIGNED THE 1/1 OF THE GANN FAN.
ANALYSING THE TOOLS, IT WAS CLEAR THAT THE TREND WILL BE BULLISH AND WILL REACH BEYOND 11120.00
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ROWLANDS DUKI
Nasdaq sell - if price closes below -0.27 Fib extensionHello traders and analyst -
we have been monitoring the Nasdaq and profit taking, but now it is time for a new outlook.
Despite the obvious of the Nasdaq and technology sector growing throughout the V-shaped first demand zone hit back in March - the Nasdaq has reached its all time high.
W formation:
The Nasdaq ceiling of 11,000 was tapped and now a W formation has occurred at the top - what happens after a W formation?
We have a sell to correct - as the extension will not be sustained.
Also conducting a Wave pattern but applies - Wave 5 profits are now being completed.
Fibonacci -
Now what can we see - price is battling for the monthly close of -0.272% over extension - However, we can see price moving against this to close below. If price does not close below - await the next move on the August candle to verify further selling.
Monthly low - March - 1.00
0.00 point is the Feb high
So our technical view: as with the S&P, VIX
it is the same scenario - where price has begun to complete a 5 wave target and now needs to break the rising channel which is also the supply zone.
COT data -
Long Shorts Total %Longs %Shorts Net
Avg_13 13,697 9,948 23,645 58% 42% 3,749
Avg_20 13,598 9,699 23,297 58% 42% 3,899
Avg 50 14,545 10,071 24,616 59% 41% 4,474
Avg_130 14,566 10,037 24,604 59% 41% 4,529
Buyers keep looking to take out the stops of sellers but the shorts are creeping in now. let's await the 10,800-11,000 before assessing again.
Same fundamental view from previous posts apply. Nothing has changed.
A question, will the stimulus provide further support or is the show over? A reset is needed?
Many thanks for all the likes and support.
To any new followers, welcome and we hope we inform your trading needs.
Thanks,
Team Lupa