Recent activity looking similar to the Sept 2020 correction. Will look for a retest of the trend line to place long trade. Would expect such a move late next week, but could trigger early depending on today's US NF Payrolls outcome.
If price breaks below trend, and below 12160-190 level, I will be looking to short NAS100 down to 11k.
Very little to report here. I would definitely prefer sells in this instance as we have target to aim for as opposed to just a good round number (15K for buys still the target if all time high is broken)
Here, we just keep playing the levels and if the 100% fib is broken at the swing low, there's the potential for a fast 1000 pip drop to 12.3k
Here I have a trade setup that I have 50% confidence in.
I am betting that the Nasdaq will be sold heavily at the highs and it has touched those.
I have sold here and I will see how the market reacts at the open? Are you with me?
Some key levels in play on the higher timeframes on NASDAQ this week.
Expecting a drop off here even with the bearish dollar. Obviously any daily close above the resistance and we begin climbing towards 15k. Just be aware come Thursday, Friday we may drop back below the key level and it be a wick fakeout on the weekly.
But I like this short trade for a few...
Do think 15k could be the end of the road for Nas. Nice clean number before a substantial drop. We need to come back and grab some liquidity first though! All depends on how many have orders set at the previous all time highs.
With stimulus and money flowing it is easy to understand why we are where we are, but the many VERY large uncertainties make this a bit hard to read right now, the best thing for the market would be sideways so i don't see much risk to reward available right now. A correction might change me from neutral.