If we go to larger time frame like daily we can conclude that is a downtrend, as the price broke the level that tested multiple times if we look back. Price has been tested to this level that turned to be the level resistance (supply zone), according to my analysis since price respected this level(Resistance) many times. I'm expecting price to go down, as it...
Price has been tested this level that became resistance due to break of structure, as for my analysis once the price break to this level it'll come back for pullback.
As a technical trader this is a pure ascending Triangle pattern, we see constant resistance level, and rising support level. I'm expecting price to break to the level of resistance and give us a bullish signal to buy and I buy. Or re-test.
As the a trader your role is to create a story that doesn't exist, looking on NAS100 as the price was heading up, it turned into reversal pattern. Looking for selling opportunity but only if price confirmed first. On these levels of resistance and support, we must wait price to react an confirm. My idea is simple.
They say anything is possible through market but a valid systematic approach is 100%👌🏾, as a technical trader in this NAS100 I'm looking for shortening the market, base on technical analysis we see price has been heading up higher reacting to levels & Suppy demand zones. Let's wait the confirmation of the candlestick before we go short!
As the price came from a long position, it turned out to create Head and shoulder pattern. As the price is consolidating I'm looking for downtrend. Patience is what defines any strategy.
