Hello traders,
Nas100 is moving according to how I predicted in my previous ideas. Finally today, the index broke above the falling wedge. At this point, I predict a strong impulse to the upside and bulls may first target the February 2023 high of 12883 and possible reach to the August 2022 high of 13700. We also need to take in consideration that the index printed a triple bottom on higher timeframe and this needs fulfillment. It's also important to keep in mind that the market can change structure especially when we are faced with Fed rate hike in few days. With that in mind we want to carefully observe how the market will react to this event next week and adapt accordingly when we see a change in price action. Otherwise, as I stated it in my previous ideas, I am very optimistic with the bullish momentum and bulls may want to use this moment to flex their muscles.
On higher timeframe, I noticed a formation of a triple bottom as shown on the snapshot below. The index broke the neckline, we saw the retest of it and bounced up strongly from the zone.
13 March 2023 Idea (Link below)
14 March 2023 Idea (Link below)
Have any thought or different view on the index? Be kind to share your opinion in the comment section below.
Trade smart!
Nas100 is moving according to how I predicted in my previous ideas. Finally today, the index broke above the falling wedge. At this point, I predict a strong impulse to the upside and bulls may first target the February 2023 high of 12883 and possible reach to the August 2022 high of 13700. We also need to take in consideration that the index printed a triple bottom on higher timeframe and this needs fulfillment. It's also important to keep in mind that the market can change structure especially when we are faced with Fed rate hike in few days. With that in mind we want to carefully observe how the market will react to this event next week and adapt accordingly when we see a change in price action. Otherwise, as I stated it in my previous ideas, I am very optimistic with the bullish momentum and bulls may want to use this moment to flex their muscles.
On higher timeframe, I noticed a formation of a triple bottom as shown on the snapshot below. The index broke the neckline, we saw the retest of it and bounced up strongly from the zone.
13 March 2023 Idea (Link below)
14 March 2023 Idea (Link below)
Have any thought or different view on the index? Be kind to share your opinion in the comment section below.
Trade smart!
