Hello everyone,
This coming week I am bearish biased on NAS100 and the other indices. We can clearly notice the market structures that there were series of higher highs and higher lows that were printed until at the point where we saw the first higher low being violated. At that point the market structure changed from bullish to bearish and we are now in a downtrend seeing that the first lower high and lower low had been printed. The market closed below the first lower low on Friday. I am expecting a pull back and then a fall this coming week. I will look for selling opportunity after a pull back. My bearish biased is also influenced by the head and shoulders pattern that had been printed, which is a sign of trend reversal. With that in mind, I will target 12051 as my first target and if the level gets violated then I will look to hold some positions till 11500.
What are your thoughts on this? Please comment below.
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This coming week I am bearish biased on NAS100 and the other indices. We can clearly notice the market structures that there were series of higher highs and higher lows that were printed until at the point where we saw the first higher low being violated. At that point the market structure changed from bullish to bearish and we are now in a downtrend seeing that the first lower high and lower low had been printed. The market closed below the first lower low on Friday. I am expecting a pull back and then a fall this coming week. I will look for selling opportunity after a pull back. My bearish biased is also influenced by the head and shoulders pattern that had been printed, which is a sign of trend reversal. With that in mind, I will target 12051 as my first target and if the level gets violated then I will look to hold some positions till 11500.
What are your thoughts on this? Please comment below.
Do not forget to show your support of this idea with likes.
Follow me so you stay updated with new ideas likes this.
