NAS100USD / TRADING BELOW TURNING LEVEL - 4H NAS100USD / 4H TIME FRAME
Tendency , prices is under downward pressure , until trading below turning level at 19,550
Downward Condition : The price is currently under downward pressure, and this trend is expected to persist as long as it remains below the turning level at 19,550 . This indicates a potential decline toward the support level (1) at 19,164 . Should a 4-hour candle close below this support, it would signal increased bearish momentum, likely resulting in a further drop toward the next support level (2) at 18,751. This scenario underscores the importance of monitoring these levels closely, as staying below the turning level could lead to continued weakness in the market.
Upward Condition : For an upward trend to establish itself and target the resistance level (1) at 19,908 , prices must first break through the turning level at 19,550 . This breakout is a crucial indicator of potential upward momentum. To further validate this movement, prices should stabilize above the resistance level (1) , which would set the stage for reaching the resistance level (2) at 20,218. However, if prices encounter the first resistance level but fail to break through and stabilize, it suggests that the upward momentum may be insufficient, leading to a potential retest of the turning level. This retest could indicate a pause or reversal in the upward trend, requiring further observation before a clear direction is determined.
NAS100USD / buy above 19,550
SL: 19,480
TP: 19,908
TP: 20,218
NAS100USD / sell below 19,550
SL: 19,600
TP: 19,164
TP: 18,751