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mid week Analyses: Correction Before the Highs Welcome Traders, Last week NAS100 gave a bullish rally on Thursday Sep 19 following the announcement of the Fed Reserve interest rate cuts. Since then, price has been consolidating. Monday and Tuesday are notoriously known for low volume and consolidation therefore I have not taken any trades. My directional bias for the week is bearish to signal HL on the bigger timeframes for the following reasons: 1. Since price signalled a Daily HL at 18,315.4 on August 4th, price has been very bullish only signalling a 4H HL once on Monday Sep 16th which respected a 23.6% fib level. 2. Price is currently within a strong area of resistance highlighted by the red zone where price previously retraced. 3. Price is currently at the 78.6% fib level of retracement on the weekly chart. Since my bias is bearish, I am looking for to see wether price action will respect the retracement zone that I have highlighted in blue. It is common for price to have a bullish liquidity grab to sweep out the current highs at NYSE open taking out any early sellers. If NYSE opens on Tuesday or Wednesday with a push to the upside, this push can serve as a key entry point for a sell position to take out the lows and restest a previous support. I anticipate the liquidity sweep to the upside to retest a previous resistance at 20,059.6 before entering sell position with a TP of 19,434.8 at the 78.6% key fib correctional level. If price does not sell, then price will breakout of the weekly consolidation range maintaining its bullish strength by signalling a series of HLs on the 1H - 2H TFs to continue to ATHs.
OANDA:NAS100USD
by jhannellefrancis
1
NAS100USD / TRADING BELOW 19,954 - 4HNAS100USD / 4H TIME FRAME HELLO TRADERS The text indicates a decline in July by 16.62%, followed by a recovery in August with a 15.64% increase. This suggests a reversal or correction phase from the previous decline. Prices are trading below the key level of 19,954. This level is pivotal, as it serves as a reference point for determining future price movements. Technical Analysis: If prices remain below 19,954, the analysis predicts a potential decline of up to 8.29%, with support levels at 19,187, 18,688, and 18,317. A break above 19,954 could signal a trend reversal, with potential resistance levels at 20,194 and 20,714. UPWARD TARGET : 20,194 , 20,714. DOWNWARD TARGET : 19,187 , 18,688 , 18,317.
OANDA:NAS100USDShort
by ArinaKarayi
1
NASDAQ Bullish ContinuationNASDAQ price is facing a credible resistance zone. If the price action is able to print a convincing Higher High, it may be a signal towards a proper Bullish continuation breakout and a potential new ALL TIME HIGH may become more likely. After the Bulls surf the potential wave, a probable opportunity may arise for the Bears in the form of a probable Harmonic reversal from key Fibonacci Harmonic price levels along with potential further confluence from key Fibonacci Projection levels. Till then, opportunity may be seized by the Bulls. Trade Plan: Entry @ 20120 Stop Loss @ 19560 TP1 @ 20680 TP2 @ 21240 TP3 @ 21800 No. of Trades: 3 Move SL to Break Even if TP1 hits.
ULong
by SalaarBT
NASDAQ gave the best longterm bullish signal. Is 25300 possible?Nasdaq (NDX) confirmed the bounce on the 1D MA200 (orange trend-line) as argued on our previous analysis (September 09) and the rebound made the ultimate bullish break-out last week, as it crossed above the Lower Highs trend-line of the July 11 All Time High (ATH), giving us the most consistent long-term buy signal on a 2-year basis. As you can see on this chart that goes as back as October 2022 and the bottom of the Inflation Crisis Bear Cycle, the two times that Nasdaq broke above such Lower Highs trend-line, while being above the 1D MA200, it gave the best buy signal possible, with both rallies peaking after a +49% and +48% rise respectively. The Sine Waves have also confirmed early this month that the index bottomed and now we have the ultimate bullish break-out confirmation. The longer the 1D MA50 (blue trend-line) holds the better, but even if it breaks (April 2024), we still expect that we are on a similar Bullish Leg that should top in roughly the same way (+47% i.e. one percent less than the previous). This gives us a long-term Target of 25300 for March - April 2025. We have plotted the Bullish Legs of 2023 and 2024 and as you can see, even though they diverge at times, they always converge again, forming a rough Channel Up, which can be a representation of our estimate course. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US100Long
by TradingShot
3
Analysis of NASDAQ 100 (H1) - Technical Breakdown (Sep 23 2024)1. Wyckoff Accumulation & Distribution Phases: This chart heavily applies Wyckoff's methodology, which is built on the phases of market accumulation and distribution. The schematic is drawn to reflect the following phases: Phase A marks the preliminary support (PSY) and automatic rally (AR), where initial buying pressure emerges after a prolonged downtrend, indicating early signs of accumulation. Phase B represents a secondary test (ST) and an upward thrust (UT) within the trading range. This phase signals the testing of supply and the building of a cause for future price movement. Phase C typically includes a "spring" or test of support, but this chart appears to be leaning towards a distribution pattern as the price tests the upper boundary. We can observe signs of a Sign of Weakness (SOW) in Phase B, suggesting a potential shift from accumulation to distribution, as supply overwhelms demand at higher price levels. 2. Elliott Wave Count: The Elliott Wave theory, which describes price movements in predictable wave patterns, is applied to the broader structure. The chart indicates the presence of a five-wave impulsive pattern (labeled 1-5): Wave 1 seems to have completed near the automatic rally (AR). Wave 2 traces back towards the end of the rally, with Wave 3 extending beyond the buying climax (BC). The final wave (Wave 5) culminates with an upward thrust (UT) in Phase B, which could signal the completion of the current cycle, leading to a bearish correction or retracement. 3. Harmonic Patterns: There is a clear integration of harmonic patterns within this chart, which is often used to predict potential reversal zones based on Fibonacci ratios. The highlighted zone with Fibonacci extensions (0.618, 1.236) suggests a potential area for a retracement: The butterfly harmonic pattern outlined between Phase A and Phase B suggests that after the buying climax (BC), the price is primed for a pullback as it approaches key Fibonacci resistance levels. The Bearish Bat pattern shows convergence near the upper resistance level (around 19,900-20,120), which corresponds with the end of Wave 5 in the Elliott Wave structure. 4. Fibonacci Levels and Retracements: Key Fibonacci retracement levels have been plotted, notably the 0.618 and 1.236 extensions. These levels serve as potential resistance or support zones in the chart. The price action initially retraced to the 0.618 Fibonacci level (around 19,567), marking a key level for potential support. If the 1.236 extension level (19,576) holds as resistance, it could validate the bearish scenario suggested by the Wyckoff distribution and harmonic pattern convergence. 5. Volume and Price Momentum: Though the volume is not displayed, the POC (Point of Control) is marked, which represents the price level where the highest volume of trading occurs within the given period. It aligns with a strong support zone at around 19,567. RSI Indicator (represented by the red line below the price chart) appears to show weakening momentum, particularly in Phase B, further supporting the potential for a downward move as the price begins to test upper resistance levels. 6. ICT (Inner Circle Trader) Model Reference: There is a reference to ICT’s Classic Weekly Profile. This model suggests a predictable weekly price structure where Monday typically creates a low or high for the week, followed by a mid-week reversal. The chart points to a possible reversal towards the middle of the week, supported by the Wyckoff distribution and harmonic setups. 7. Key Resistance and Support Zones: Several key levels are highlighted: Upper Resistance (19,962.5 - 20,120): These zones, indicated by the buying climax (BC) and upper thrust (UT), are likely to serve as strong resistance as the price begins to retrace. Support Zones: The area near 19,567 (0.618 retracement) and 19,490 marks a significant support zone, where demand could potentially re-enter if prices pull back sharply. 8. Wave Invalidation Points: The chart includes an invalidating point for Wave 4. If the price breaches this level, the current wave structure would be invalidated, and a deeper correction might be expected. The potential invalidation could occur near 19,322, signaling a breakdown in the bullish impulse wave count. Conclusion: In summary, this NASDAQ 100 chart reflects a complex but highly informative mix of Wyckoff Distribution, Elliott Wave Theory, and Harmonic Patterns with Fibonacci retracements. The ongoing phase seems to indicate a transition towards a bearish correction, particularly as prices approach major resistance zones around 19,900 to 20,120. Traders should monitor key support levels near 19,567 and below, as a breach of these levels would likely trigger deeper corrective moves in line with the Wyckoff and Elliott Wave structures.
PEPPERSTONE:NAS100Short
by spacedevil
9
UPDATE ON NASDAQ ANALYSISNAS100 4H - As you can see after price trading us through and absorbing the last Supply Zone we are now expecting price to trade us up and into the one we have marked out above. From here I am expecting an S&D flip to the downside, giving us the opportunity to get involved in shorts. In order for us to deem a valid entry we must wait for price to trade into the area of Supply and give us relevant confirmation to suggest that price is ready to move lower. We get this confirmation via a BOS to the downside. A break in structure will tell us the that the correction trading us up and into the Supply Zone is over and a new trend trading us lower is ready to be printed into the market. I have drawn out an example on how I see price playing out over the course of the next few days. Its important we wait for confirmation parameters before we get involved in these markets as it gives us a higher probability of being successful when placing trades and trading the market itself. I will keep you all posted with my doings.
PEPPERSTONE:NAS100Short
by Lukegforex
Market Awaits Data and Fed Insights Amid Nasdaq ConsolidationInvestors Focus on Economic Data and Fed Speeches On Monday, investors will be closely monitoring key economic data from the service and manufacturing sectors. Additionally, speeches from Atlanta Fed President Raphael Bostic, Chicago Fed President Austan Goolsbee, and Minneapolis Fed President Neel Kashkari will be watched for clues on the Federal Reserve's next policy moves. Technical Analysis: The Nasdaq is currently consolidating between 19,970 and 19,690. A breakout above 19,970 would signal a bullish trend towards 20,500. However, if the index remains below 19,970, it is likely to test 19,690, with a break below this level confirming a bearish trend targeting 19,370. Key Levels: Pivot Point: 19,870 Resistance Levels: 19970, 20120, 20500 Support Levels: 19535, 19370, 19160 Trend: Consolidation: 19,970 - 19,690 Bullish: Above 19,970 Bearish: Below 19,680
OANDA:NAS100USDShort
by SroshMayi
Weekly Analyses Hi Traders, Welcome to another weekly analyses for Sep 23 - 27 Top Down Analyses: Weekly Timeframe On the weekly chart, price is currently in a consolidation area between 20,033.6 and 18,092.2. The bullish inside day candle that was formed on Monday Sep 9, served as an indication that price would continue bullish. However, price is still yet to breakout of the range to confirm buys to ATHs. Currently, price is at a level of resistance where price previously retraced. Using my fibs, we can see that price currently sits at the 78.6% fib level known to be a key area of retracement. Daily Timeframe On the daily chart, price has showed more bullish structure as it respected a level of support at 19,311.7 along with the daily moving averages to complete its trend move from Low to High with a strong bullish candle. However, this High point signalled is currently only 500pips above the previous LH which as I mentioned is at a level of resistance. Similar to the previous LH signalled, price can retrace to signal HL a retest the previous lows. 10H TF On the 10H chart we can see more clearly that the 10H HH signalled is currently forming a double top pattern until price gives a clear breakout of structure. This double top is an indication that price can retrace to complete the M pattern and signal a HL on the bigger TF. Trading Plan for the week: Monday and Tuesday are notoriously known for low volume and consolidation therefore I will not be taking any trades at the start of the week. Instead I will monitor price action for signs of retracements or breakout of structure for a clearer directional bias for the rest of the week. Currently, my bias is bearish to signal HL on the bigger timeframes for the following reasons: 1. Since price signalled a Daily HL on August 4th, price has been very bullish only signalling a 4H HL once on Monday Sep 16th which respected a 23.6% fib level. The first week following the Daily HL price only signalled a 1H HL. 2. Price is at a strong area of resistance highlighted by the red zone where price previously retraced. 3. Price is currently at the 78.6% fib level on the weekly chart. Since my bias is bearish, I am looking for to see wether price action will respect the retracement zone that I have highlighted in blue. Therefore, as long as price remains below 20,057.1 the retracement is valid to signal HL on the bigger TFs. If not, then price will breakout of the weekly consolidation range maintaining its bullish strength by signalling a series of HLs on the 1H - 2H TFs to continue to ATHs.
OANDA:NAS100USD
by jhannellefrancis