NAS100 ANALYSIS

Closed this trade in little loss

Ustech saw a down side after yesterday fundamentals weighing much on it as we got a positive side for the us dollar,, marked out my 15 min local support level, a break below there gives more push downwards.

Ustech selling off without triggering me in @ 29894 SL @ 30026

Reference to the chart

I am long on NAS100 because the bullish engulfing formed on a previous days NY session high

Me I enter once price rejects at a previous day's NY session high or low

It's just a pullback get your quick profit and out the overall is bearish 29890 is my bearish entry level, price was just too fast

I enter only on pullbacks the last candle I marked with a blue box was supposed to be my waiting candle for price to pull back and trigger before continuation

How about this now , see price is heading to those lows I wasn't triggered remember it's like 2 weeks now

Price won't respect those lows because price is already bearish

My plan was to sell from that 30508 level to that lows whether it hold or not is not my concern

The sells will definitely work

Look out for sell setups

I won't sell for now untill another confirmation and the trend has gone far, it's at demand of the 4hrs but still at daily and weekly supply, and due to dxy moderate fundamental right now risky assets like the oil, aud and even ustech soon will begin to pick-up so I will just wait and see no rush

This fundamental analysis is just wow...

I just work based on structures alone but seeing fundamentals, it's cool

I always combine fundamentals and technical to trade , or any other driver like presently what is weighing USDCAD is oil price that is surging higher

Yeah USDCAD is bearish

Oil price is strengthening the CAD , And that is what is pushing down USDCAD

Oil price is strengthening the CAD , And that is what is pushing down USDCAD

That's like an indirect correlation right...

No it's not like direct or indirect correlation, the fundamentals is that once oil prices start surging it strength the CAD index which causes CAD to be stronger than dollar because Canada is a major oil exporting country so their economy actually depends highly on oil prices so but if oil is down and CAD fundamental is good and dollar is down fundamentally it can still favour usdcad sells but if USD is stronger fundamentally and oil is weak and cad is fundamentally weak it will favour usdcad buy