A Small Double Top is in making.
Go Short below 17950 sl 18250 tgt 17200
Disclaimer:-
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nasdaq forms a reversal doji
and the doji forms on all time high shows a rejection
and trap all retaillers because doji is a reversal pattern
now market trapped sellers
and break the doji candels high
now we trade on retracement
i will share my 1 hour and 15 min view
and the entry points
- The US 100 looks better to me when compared to the US 30 or Dow
- Nasdaq can keep outperforming so your bias should be bullish
- The focus here shouldn't be to keep shorting every top you see
- Rather focus on deep retracements and make sure the structure doesn't change
- Refine your charts on a shorter timeframe and make sure you see a strong base everywhere
According to the chart as seen, we can see Nasdaq going short to the first imbalance and start to consolidate. It will then continue to push further down to balance out an imbalance at the bottom. Upon that downfall we then see Nasdaq bounce off the balanced order block and go long and push to the upside direction.
Index has formed a terminal structure which is known as Ending diagonal. This suggests that index is likely to fall towards 16400-16000 zone in the coming weeks and months ahead.
Nasdaq tooks all buy side liq and go upside and take also sell side liq and comes down
If it want to go upside it should take the sell side liq on 0.705 zone
Nasdaq has been Diverging on the Daily MACD since January 26th. Momentum is finally signaling towards the down side. Failing to make Higher Highs on the 4 Hour Time Frame, rejecting perfectly off of the upper Trend Line. Confirming that there is a Trend Change coming. Stop Loss placed above the Trend Line at 18092.26.
Nasdaq RalliesAs I had written in the 2024 forecast for equities, I continue to expect support from Fed commentary until or unless they have little choice. Given the state of global markets, with worry in China and Europe along with Japan recently going into recession, hawkish talk from the U.S. Central Bank could open up a host of problems that would be difficult...
I would be comfortable to sell NAS1OO after CPI report, If CPI take Nas100 up. I will sell with a good risk management. If I don't see this happen I will not sell. I will frame another entry. Lets download Success
- Nasdaq is currently in a zone where we can see more impulsive spikes and drawdowns
- Us100 can show us some retracement anytime in a negative catalyst
- Wait for a retracement and do not execute shorts at this moment.
For educational purpose
A head and shoulders pattern has four components:
1. After long bullish trends, the price rises to a peak and subsequently declines to form a trough.
2. The price rises again to form a second high substantially above the initial peak and declines again.
3. The price rises a third time, but only to the first peak level, before declining...
- Nasdaq recently got rejected after trading at its all-time high
- Nasdaq is currently retracing and looking to first mitigate the recent origin its started the impulsive move from
- From a Trading perspective, I would prefer scalp shorts and complement them with swing longs once the retracement is done and completed
- A shorter TF should lead to a...
NASDAQ 5% upside in next 2 weeks Possible.
This should help Indian IT Index to outperform NIFTY.
Expect IT Index to zoom by 5% in next 9-10 days.
Happy Investing.
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
