US 100 Cash CFDShort
Rising Wedge Pattern on NAS100
NAS100 was printing HHs and HLs however, recently it has been unable to continue uptrend: printed a LH and has started consolidating. Moreover, a rising wedge formation can be observed on 1H timeframe alongwith several breaish divergences on RSI.
There also exists a support at 20042.5-20162.7 (grey box). It is opined that the price may start a downtrend if it breaks this support; of which there are fair chances. Therefore, a short entry has been planned on downward break of the aforementioned support with proportionate SL and TP as marked on the chart.
There also exists a support at 20042.5-20162.7 (grey box). It is opined that the price may start a downtrend if it breaks this support; of which there are fair chances. Therefore, a short entry has been planned on downward break of the aforementioned support with proportionate SL and TP as marked on the chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.