Going with Long today on NAZ. Yesterday 15361 appeared to be a Drop/Pop setup to to 4HR TLX 15069. This level should be the LZ (Launching Zone) for the drive up. Yellow Arrow is today and White is multiple days. Longer term, looking for a 50% retracement test & TLX at/to 15870. NAZ has been Grinding lower and running out of steam, same as when it Grinds higher and runs out of steam. YEP, calling a bottom/bounce here. Check out prior calls (Tops/Bottoms) attached.
4 Hour Chart
4 Hour Chart
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NAZ Topped at 181 near TLX. Possible PB levels, 15030 & 15090, look Long or wait until Open.
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Watch may be Short set up to 15100
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Long is the call today, expect a PB for entry or Go Long above TLX 15079. I am expecting a Pull Back prior to any run higher. The PB will appear to be a Short Day trade, it very well may. The Long may or may not happen and may be later in day or after Open. PB happening now.
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Waiting on Buy Signal, you could of shorted this. I am in Long.
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Buy Signal on 25 and 50 RB. Expected PB to 110 20 level was set up. NAZ needs to pass 194.
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Stay Long, stepping away.
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Next push will be some short covering.
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NAZ back at original LZ Drop/Pop start, next leg up. closing 3 here just in case.
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Buy, 3 Leg and then PB. White arrow below is divergence.
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Same here
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Long above white arrow.
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Quick bought drops, not a short day but dip buying.
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361 target.
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PB to yellow is entry. This one is weak, Use stop in Dead Zone or do not trade.
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Yellow is take profit or short and white is Long, needs to confirm in Dead Zone.
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Dead Zone is picking up stops rather than deeper drop. I TP'd at 321 previous yellow arrow after 3 Legs.
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NAZ is digging out of a hole. Play TLX range.
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Add up moves/points in range. Now that I am out will play this. Better than Long and hold.
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Entry and double bottom below, signal/confirm.
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Stepping away but last drop was set up to 361, ?? Watch Legs on Pop, 3-4 is max.
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285 is Key Level, NAZ needs to stay above. Top of 1st 30M.
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Careful on Long Trap. Yellow arrow, fewer buy orders than sell above 285.
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Current Trap from 300
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230 is a buy set up, don't trade just watch.
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Just like game played at 285, same thing here at 230
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Covering Short from Long Trap.
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If you are frustrated, trading in the Dead Zone is much harder than the pre and Open 1st hours. I usually do not trade much after. Just to cover or if I see an easy set up. You will need wide stops if you want to hold a position through the Dead Zone or take profit and re-enter. Long developing and will be take off near 230 or so, if so.
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194 TLX re test go long above 194, or wait for NAZ to pass 230. No pass on 230 is lower move, watch or take a position.
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Some trades here with Brackets, but at RLX or white arrow and take profit at peaks or near 222. NAZ will drop if no pass at 222. So do not stay in your trade. 50 Range looks OK with MACD working, only reason thinking Long bounce.
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Here is the result, notice 230 is blocking. Not clear move higher just yet.
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230 was a Block and Short Zone, reason why I took profit at 230. Can't hold trades in dead zone.
Trade closed manually:
Long Trap avoidance saved the day today, see the tricks. This year has been extremely difficult, but generating above average movement. Skipping final hour posting today so be careful. Favor the Long side as a 2nd Pop may actually still happen, wait for set up/confirm.
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Another missed opportunity on the Short side, got 1st have correct. TLX's are reliable as they are accurate in either direction. Will update new by tomorrow.
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This is 50 Range IDS, the white arrows are Long Signals, you will notice none on the decline portion of day. Try and follow, be a robot.
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You can use side by side 25/50 and wait for confirm on both.
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581 and 500, next.
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Will update 1-21 Soon, 15361 things changed and that level will be defended on short/sell side. NAZ has room to drop as overvalued Tech is the chatter, view chart and do the same for the FAANG.
