USTECH 100/NASDQ | Perspective for the week | Follow-up detail

Following the strong sell that characterised this market in the last two weeks where we were able to scoop about 1,400 pips since my last publication on the index (see link below for reference purposes); we are currently at a critical point at around the $12,000 zone going into the new week. Are we going to be seeing buying potential during the coming week or a breakdown of the $12K zone will incite a plunge in the price of the index?

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Trade active:

Since the beginning of the week price appears to be caught within the $12,150 and $12,050 zone hence I want to wait for a signal in the form of either a breakout/breakdown of the channel to make a decision.

Good morning

Trade active:

We are beginning to witness a setup that has a potential of breaking above the channel at the $12,150 level.

Good morning

Trade active:

Above $12,150 area is a comfortable place to be in a buy position

Good morning

Trade active:

Break-even hit as a bearish signal established after a successful breakdown of the channel and key level at the $12,000 area.

Trade active:

Running as expected. PATIENCE!

Good morning

Comment:

With a significant breakout of the channel between the $12,150 and $12,050 to the upside, I will have to be patient enough to see how price action plays out to make a decision.

Good morning

Trade active:

A sharp rejection of the buy zone in the 15mins timeframe sets the tone for a bullish momentum - locking in some profit. (Sorry the identification of the buy zone was not updated here as it is on my youtube channel - please check today's live studio session)

Trade active:

Over 200 pips running in profit; locking in some profit

Good morning

Trade closed: target reached:

340pips in profit