NASDAQ 100: What next?
The Daily trend is in a Downtrend technically indicated by following:
• Dow pattern- lower tops and lower bottoms (T1-B1-T2-B2).
• Price is currently trading BELOW the downtrend line.
Prices are trading below the resistance level (R1), 61.8% Fibo & SMA 200.
RSI:
• RSI is just above the equilibrium level 50. No divergence.
We should take under consideration that prices are below: 1.the downtrend trend-line, 2. the SMA200 and 3. the 61.8% Fibo level. Therefore we will consider short positions.
1. In case of a daily close below the resistance level (R1) at 4400:
We will recommend SHORT POSITIONS for the no position holders on NASDQ 100. Take profit.1 at 4084 (S1) and take profit.2 at 4000. Stop loss should be a bit above the resistance level (R2) at 4440, thus the stop loss is at 4450-4480.
For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above.
2. In case of a move above the resistance area at 4440-4450 (R2), we will recommend long positions. Take profit at 4675. Stop loss should be a bit below the R1, thus the stop loss at 4357.
• Dow pattern- lower tops and lower bottoms (T1-B1-T2-B2).
• Price is currently trading BELOW the downtrend line.
Prices are trading below the resistance level (R1), 61.8% Fibo & SMA 200.
RSI:
• RSI is just above the equilibrium level 50. No divergence.
We should take under consideration that prices are below: 1.the downtrend trend-line, 2. the SMA200 and 3. the 61.8% Fibo level. Therefore we will consider short positions.
1. In case of a daily close below the resistance level (R1) at 4400:
We will recommend SHORT POSITIONS for the no position holders on NASDQ 100. Take profit.1 at 4084 (S1) and take profit.2 at 4000. Stop loss should be a bit above the resistance level (R2) at 4440, thus the stop loss is at 4450-4480.
For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above.
2. In case of a move above the resistance area at 4440-4450 (R2), we will recommend long positions. Take profit at 4675. Stop loss should be a bit below the R1, thus the stop loss at 4357.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.