Hello traders,
Today, I would like to share a potential long opportunity on NAS US100. We are looking for a retracement to the 0.5-0.618 Fibonacci levels between 13100 and 13060. This zone coincides with a 2-hour fair value gap, has a good support, and is strengthened by key psychological levels.
Key Points:
Potential retracement to the 0.5-0.618 FIB levels (13100-13060)
Strong support zone with historical significance
2-hour fair value gap providing additional confluence
Psychological levels (13100 and 13000) adding extra support
Trade Setup:
Entry: We will be looking for an entry in the 13100-13060 range, as the price retraces to the mentioned support zone, Fibonacci levels, and psychological levels.
Stop Loss: A stop loss will be placed below the 0.66 Fibonacci level at 13050 to minimize risk and protect our capital in case the price breaks further down.
Target: Our primary target is previous highs and i will aim to target the weekly level at 13550.
Risk Management: As always, remember to manage your risk appropriately. Only risk a small percentage of your trading account on any single trade and ensure your risk-to-reward ratio is favorable.
This long opportunity on NAS US100 presents a promising setup with strong confluence factors, such as the 0.5-0.618 Fibonacci retracement levels, a good support zone, the 2-hour fair value gap, and psychological levels (13100 and 13000). Keep an eye on this trade and let's see how it plays out. Happy trading!
Today, I would like to share a potential long opportunity on NAS US100. We are looking for a retracement to the 0.5-0.618 Fibonacci levels between 13100 and 13060. This zone coincides with a 2-hour fair value gap, has a good support, and is strengthened by key psychological levels.
Key Points:
Potential retracement to the 0.5-0.618 FIB levels (13100-13060)
Strong support zone with historical significance
2-hour fair value gap providing additional confluence
Psychological levels (13100 and 13000) adding extra support
Trade Setup:
Entry: We will be looking for an entry in the 13100-13060 range, as the price retraces to the mentioned support zone, Fibonacci levels, and psychological levels.
Stop Loss: A stop loss will be placed below the 0.66 Fibonacci level at 13050 to minimize risk and protect our capital in case the price breaks further down.
Target: Our primary target is previous highs and i will aim to target the weekly level at 13550.
Risk Management: As always, remember to manage your risk appropriately. Only risk a small percentage of your trading account on any single trade and ensure your risk-to-reward ratio is favorable.
This long opportunity on NAS US100 presents a promising setup with strong confluence factors, such as the 0.5-0.618 Fibonacci retracement levels, a good support zone, the 2-hour fair value gap, and psychological levels (13100 and 13000). Keep an eye on this trade and let's see how it plays out. Happy trading!