Other than the fragile state of the current global economy, I am only using very basic analytical tools such as H&S, Double Top and Rising Wedge. These coupled with recent ATH's give me enough indication that the edge is in favour of a decline rather than another rally. NAS100 is a fickle beast so I could be way off, however it has been a while since I've posted so I thought I'd give it a crack. I haven't entered yet, however I have setup an alert for the top right shoulder, where I'll be watching closely to see if it's likely to make one last push towards 8,000, or if the drop will begin. If it does drop, I will wait for confirmation by way of break of the neckline and big red pin bar.
Appreciate all comments, feedback and varying opinions. Please make any criticisms as constructive as possible!
Thanks :)
Appreciate all comments, feedback and varying opinions. Please make any criticisms as constructive as possible!
Thanks :)
Comment:
Now watching very closely as it's at critical point where I am hoping for a sharp decline. I have entered a small short position here with close SL. If we see sharp sell action in the coming hours I will place larger short position.