NQ1! NAS100USD NASDAQ 2023 Oct 02
Analysis from 02 Sep 2023 short scenario worked out well for the month.
- market broke down the upward channel (black dash)
- Supply is present on Friday's bar
- Wait for reaction to demand line of upward channel (blue highlight, set alarm)
Possible scenarios:
1) Market returns into upward channel and is supported = Long on test and accept
2) Short on rejection if bottom of channel becomes resistance.
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16255 15801 15283 14804 13960
*Longer term: 13350 support must hold for long trend to be intact.
Price/Volume/Trend Analysis:
Weekly: Ave vol up bar close level with previous bar = NTC, Minor support
Daily: S>D weak close up bar.
*NTC = Non-Trend Changing | PTC: Potential Trend Changing
Like and follow if you find this useful | *For education purpose only.
Have a profitable trading week.
Analysis from 02 Sep 2023 short scenario worked out well for the month.
- market broke down the upward channel (black dash)
- Supply is present on Friday's bar
- Wait for reaction to demand line of upward channel (blue highlight, set alarm)
Possible scenarios:
1) Market returns into upward channel and is supported = Long on test and accept
2) Short on rejection if bottom of channel becomes resistance.
Price Reaction Levels
Short on Test and reject | Long on Test and Accept
16255 15801 15283 14804 13960
*Longer term: 13350 support must hold for long trend to be intact.
Price/Volume/Trend Analysis:
Weekly: Ave vol up bar close level with previous bar = NTC, Minor support
Daily: S>D weak close up bar.
*NTC = Non-Trend Changing | PTC: Potential Trend Changing
Like and follow if you find this useful | *For education purpose only.
Have a profitable trading week.
