Seeing that Nas didn't hit my previous entry at 13865 (15 point miss), I'm going to attempt at another restest to get in the trade. 13975 should be a decent entry point. Good luck.
Nas100 has tested the 14k price again and seems to be retesting. I’ve marked the zone it plans to retest and then potentially progress toward breaking the previous top/resistance toward 14200 area.
I initially thought we would see a clear inverse HNS, but we seemed to have ‘double bottomed’ before making our way up to the breaking point and beyond.
I hope this...
Rising Wedge
A rising wedge is formed when price consolidates between upward sloping support and resistance lines.
This indicates that higher lows are being formed faster than higher highs. This leads to a wedge-like formation, which is exactly where the chart pattern gets its name from!
With prices consolidating, we know that a big splash is coming, so we can...
Long on Nas100 after it retest to the 11600 area on Monday, 12 October @15:30 GWMT UTC. I say enter at 11615 and watch it fly toward the 12000 area during the course of the week.
As you can see, in the 4H timeframe, an inverse Head & Shoulders is present. This price action and chart pattern is common and can be trusted. Even with Fib retracement.
