Pair is likely to be forming a bull flag pattern. Hence will wait for the go to setup to form before entring the trade.
Bias is to go LONG.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
Price has reversed after forming a falling wedge pattern.
And now its formed a bull flag pattern.
Waiting for the GO-TO-SETUP to form before entering the trade.
Just knowing the next expected move is not enough to be profitable in the long term.
You need to know when to add more multiple calculated positions and also effectively manage the...
OCT. 7 and OCT. 19. (in purple)
NASDAQ : USDYEN : EURUSD : DXY : SILVER
These BIG FIVE have consistent direct and inverse relationships with each other
(for example: the USDYEN predicts the movement of the US-indices)
AND on these two(2) dates their EW-WAVES area ALL lining up.
According to my count which has been unfolding since last Friday
These are my thoughts on the NASDAQ
Double correction into WAVE 5
WAVE 5 will reach the 100 FIB by chance around the time of the Election
It doesn't matter who wins, the NASDAQ will head lower for a deeper
RUNNING FLAT correction of the March 3rd LOWS
Resolution - 4 Hours
Probable Fake Breakdown Reversal Alert.
One can plan an entry at the current price, with a stop loss of around $11040.
Target - Open (or trail with 50DEMA, since it has reclaimed it today)
NASDAQ has clearly done mass psychology and got everybody at the wrong side of the market making people think it is going to continue long.
But the pattern it formed was a rising wedge pattern which was clearly a reversal in trend.
Now price has formed a bear flag pattern hence looking to enter short
Last Close : 10854.8
For the week 13-17 July 2020
Any pull back near 10661 will be bought into.
Targets for bulls i have marked in the chart.
Below 10538... Bears will be in control
Will review this again in the next week.
Like... Share.. Follow... Stay tuned.
Nas100 has broken the all time high, and now currently in consolidation, If this bad boy comes back to the region then the probability is that its gonna shoot up again. Keep your eyes on this one too!!