NAS 100 had beautiful bounce today and has broken above the neutral zone and the 618 in the 13277 area. (see previous chart) Once again its making a big move overnight. Price is now coming into the completion zone of a 4H bearish Cypher pattern. Caution is warranted before starting new positions early in the morning if we open in the completion zone. I'm hoping for a brief pull back then reset and push above the 786 Fib into the highs again. It is possible to see the NAS 100 reverse in this zone and drop back down sharply. Lets see how it plays out.
코멘트:
Barely any reaction to the completion zone. Usually see at least a small pull so this is a bullish sign. I'm not shorting yet as there has been no lower time frame pattern to use for entry. If I do end up shorting my stops will be either a break of the high (dotted line) or the 1.13 extension.
코멘트:
And I meant to point out...massive 6% move in 2 days.
코멘트:
Got a small tradable pull back but it was bought up aggressively at the 236. Very bullish looking setup now.
