Hi guys im a beginner trader trying out some strategies and trying to become familiar with charts.
My idea is that Nas 100 is going back down. Nas is currently at a resistance which was a previous support, and this also happens to be where the 0.618 fib is. I believe that if it breaks the uptrend on the lower time frame it will continue to fall to the previous support. Im not sure how accurate my idea is but id really like to know what you guys think. please leave a comment with any feedback you guys have.
Thanks
My idea is that Nas 100 is going back down. Nas is currently at a resistance which was a previous support, and this also happens to be where the 0.618 fib is. I believe that if it breaks the uptrend on the lower time frame it will continue to fall to the previous support. Im not sure how accurate my idea is but id really like to know what you guys think. please leave a comment with any feedback you guys have.
Thanks
Order cancelled:
Idea invalidated because the resistance was broken