iwasbornrich

iwasbornrich

market is trying to build momentum so that it can break the resistance zone which it has been trying to do several times, going back to the bullish trend market Nas100 is.

iwasbornrich

Retested the point of interest (resistance) forming a head and shoulders pattern lets see if it will follow the 3rd touch rule within the trend line and retest bottom point of interest (support)

iwasbornrich

Point of interest broken waiting for the 3rd touch on the trendline and we go up as per concept 3rd touch concept.

iwasbornrich

Market comes from retesting a previous resistance lets see if it will break the previous support or continue to go down bear in mind that the are liquidity gaps that the market needs to cover then take a more stable direction.

iwasbornrich

Failed to break support on the trendline going long to create a 3rd touch of the trendline keep in mind that nas100 is always a bullish market

iwasbornrich

Resistance retested and now on the way downwards to the 3rd touch within the trendline lets see if it will be able to break it

iwasbornrich

Nas100 Broke Structure anticipating a Bullish Pattern , if it does break the dotted line as marked on the chart which is a strong resistance/support area it will have to first retest before going to the upside and it will repeat the same pattern should it break the main channel structure break and retest as marked or illustrated by the eclipse shape on the channel...

iwasbornrich

Nas100 failed to break the support within the channel therefore a bullish trend is expected...lets see what happens when it gets to the dotted line as marked within the channel which is normally a strong support or resistance area .

iwasbornrich

Another possible way to look at the bullish possibility from what was a key structure which has been broken and this is merely on the chart pattern and just by taking the recent highest point and lowest point analysis based and strictly derived from H4 TF as observed from the recent breakout

iwasbornrich

It currently broke out bearish the preexisting support structure and created and new support structure my analysis illustrates bullish eventually going for new resistance as analysed in the chart