NASDAQ weekly Projections

Price has finally triggered and my sl was almost hit. That was close

This is the reason why I said don't trust a local support or resistance to just put your entry base on confirmation, you have your confirmation wait for reactions let you entry level not be a reaction zone, it drains psychologically, price still reacting from that level, not even sure of the zone if price will break up or it will continue down and it reduces confidence, Nas100 may break above 2986.08 although it is still going up and down

Price is just messing with my mind right now.

But I'll hold it regardless

Just hold with BE, if you get stopped out, just wait for another setup I mean a confirmed setup don't rush at all

Yeah I'm not in a rush at all

I'll allow price do it's thing

NASDAQ- Daily Analysis Update

BIAS: Bearish

On the daily, Price revisited the Resistance level at 29875-29750, and rejected sharply signifying the bears are still actively present at the resistance zone, and the daily trendline is still very valid.

Nas 100-With a bearish candle close on the daily today, expect sell continuations tomorrow.

Nice. How's the sells going? Price respected the Trendline which confluences with the key resistance level at 29900.

It is very clear that nas100 is ranging it goes from resistance to support and from support to resistance

NAS 100 4hr- Expecting the heavy bearish decline to drop down to 28402, which confluences with lower boundaries of the Bearish channel but with minor bullish reactions at 29022, and 28800 internal support regions.

Nas 100- there's a 1hr internal trend support that can challenge the bearish decline of Nas100 down to the next major support, as we see current price reactions on the lower boundaries of the 1hr trendline.

From my personal observations, Internal trendline channels with wide angles are usually not sustainable for long, but on bullish assets like nasdaq, they can prove otherwise sometimes. we'll watch to see how long this particular one will last.

NAS 100- how to read Trend Angles (part 1)

Trend angle is a measurement tool that is used to measure impulse legs in a trending market.

The angle represents the shallowness or steepness of each impulse leg. When 2 to 3 angles of impulse legs are compared, it gives a sequence which implies the trend momentum is increasing or decreasing. like the 73-71 sequence in the charts.

The sells is going well, but that retracement is scary sha

Price don't break traditional support and resistance easily, especially major ones. it requires extra patience and careful observation with experience to trade them with ease.See the drop that later came from the zone. exactly at that 29900-29750 price region that confluences with the Daily bearish trendline.

Yes. I stated that last week. and that can last until the month is over. The monthly candle is bearish, and stands a higher chance of closing bearish at month end.

Nas 100- Price has formed a triple top this month at the 29750-29900 price region making it a solid major resistance zone. A break above this region and Nasdaq will aim for new all time highs.

Nas 100 - How to read Trend angles (part 2)

From the charts, the first impulse leg has trend angle of 73.73*, while the second impulse leg has a trend angle of 71*. From this measurement, the trend angle sequence is 73*-71 and this means the impulse leg is decreasing in momentum despite creating higher highs and higher lows.

The 3rd impulse leg is not yet completed and thus cannot be measured.

Nas 100 - How to read Trend angles (part 3)

The 73* and 71* trend angles are both wide and wide angles shows steepness which implores that an impulse leg will be followed with sharp reversals.

shallow angles like 15*-20* are moderate and shows market is trending but not aggressively and price is advancing at a measured pace instead of accelerating.

healthy trend angles are between 35* to 55* and shows the trends are sustainable as shown in the GBPJPY charts (2nd picture).

Trend angles are not to be used single, but as added confluence or confirmation in technical analysis as it can guide one to understand when a trend has weakened and has a higher chance of reversal especially in steep trends.

NAS 100- the retracement was sponsored by this trend support. but i don't trust it to hold for long. I'm expecting the sells to stil continue after the retracements.