Traders, in my previous analyses I stated why Nas100 might turn bearish anytime soon. For more detailed explanation, please consider checking my previous analyses by following the links below.
First, Nas100 is currently trading at the diagonal resistance of a rising channel that began September 2020. We witnessed strong selling pressures when price came to this level. For this very reason I believe price will likely do the same, get pushed back strongly to the support of this rising channel or even beyond.
Second, after careful examination, I noticed price behaving in a corrective manner on LTM which depicts a rising channel, a reversal pattern. Looking at this, I see the market completing this pattern and will soon decide its next strong impulse.
We will carefully and patiently examine further developments around my 5th touch to see if there will be any signs to short this market from there with four targets as shown on the chart.
Please take note that only if the selling opportunity present itself, otherwise no selling entry will be executed.
If you enjoy my ideas, please show support with a like. If you have any suggestion or opinion please share in the comment section below.
First, Nas100 is currently trading at the diagonal resistance of a rising channel that began September 2020. We witnessed strong selling pressures when price came to this level. For this very reason I believe price will likely do the same, get pushed back strongly to the support of this rising channel or even beyond.
Second, after careful examination, I noticed price behaving in a corrective manner on LTM which depicts a rising channel, a reversal pattern. Looking at this, I see the market completing this pattern and will soon decide its next strong impulse.
We will carefully and patiently examine further developments around my 5th touch to see if there will be any signs to short this market from there with four targets as shown on the chart.
Please take note that only if the selling opportunity present itself, otherwise no selling entry will be executed.
If you enjoy my ideas, please show support with a like. If you have any suggestion or opinion please share in the comment section below.
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