Hello traders,
Last week we witnessed a strong decline in Nas100 and bears were very aggressive. Bears managed to push price close to the demand zone of 13200. There are two possible scenarios this week. If bears continue to dominate and manage to break below 13000 the only area we will expect bulls to show up is the March 2021 low at 12200.
On the other hand, if bulls can be able to hold price at 13000 and 13200, we can expect an increase in price and strong bullish momentum.
I will be looking for any possible signs to either go long if there can be bullish confirmations or go short if bears successfully break below the 13000 demand zone.
Friends, if you find this idea helpful please support it with likes. I will be thankful.
Also do let me know your bias in the comment section below. Will you be more interested to go long or short and why?
Last week we witnessed a strong decline in Nas100 and bears were very aggressive. Bears managed to push price close to the demand zone of 13200. There are two possible scenarios this week. If bears continue to dominate and manage to break below 13000 the only area we will expect bulls to show up is the March 2021 low at 12200.
On the other hand, if bulls can be able to hold price at 13000 and 13200, we can expect an increase in price and strong bullish momentum.
I will be looking for any possible signs to either go long if there can be bullish confirmations or go short if bears successfully break below the 13000 demand zone.
Friends, if you find this idea helpful please support it with likes. I will be thankful.
Also do let me know your bias in the comment section below. Will you be more interested to go long or short and why?
