The NAS100 has completed its move down from the resistance trendline of H1 rising channel, bounced up early from support at the 8615 level and has now reached the the resistance again. Sell immediately while price is as close to support as possible for better risk/reward since a move to the downside of the channel has been confirmed by a rejection of the resistance trendline. Target profits should be safe right above the 8650 price level. However also be prepared to buy upon break out to the upside.
Hope we all managed to bag profits on the the previous move downwards despite the US news release causing a rally.
Hope we all managed to bag profits on the the previous move downwards despite the US news release causing a rally.