NASDAQ weekly Projections

That's good

Just watch price closely or you set an alert

Did you later sell? price traded above this accumulation level briefly and declined sharply below it. Price is back at that price level today @29021 but is stuck, until it breaks above it, or invalidate the trend support below it.

Nas 100-30mins- To further refine the analysis, price has formed a pennant. It's a neutral chart pattern that can result in a breakout on either side of the trendline with a fake out first in some cases. will watch out for which side breaks out first, to detect the fake out early.

More reason why you need to watch price closely or set alert on both sides like i said earlier

Alright.

Nas100 4hr potential fakeout-but that will be confirmed if the 4hr closes bullish. If the current 4hr closes bearish, I'll expect the sell continuations.

That's not bad

Keep it up

Alright then

Keep an eye on price

I didn't sell again, the 4hrs reaction didn't work out for sells it gave a fake buy signal but i didn't buy either

I didn't sell , didn't get a good reaction for sell I got fake buy signal but didn't initiate because the trend is bearish so my bullish entry would have failed

From the lower timeframe the neckline of the double was just been swept not fully broken, it's only when the break occurs that we will see that downward movement you have projected

Price is still not showing a clear direction it made a double bottom, before buying now making a double top, the head and shoulder pattern is something that has to happen on its own no need of predicting it, but i believe more on the sells than buys

How will you detect the fake out in with respect to the pennant structure?

Thanks. do you trade Nasdaq? What's your current bias on it?

I'm having this potential bullish setup on it.

Most cases, the first breakout is the fake out. so, if it breaks downwards, I'll now look for buys to ride for the upside break.
But in this case, the buys that would have pushed for the sweep of the upper trendline didn't but rather did a retest of the lower trendline and continue the sells down.

It's not in all cases the fake out happen, but in most cases.

Nas 100- Price formed the Head and shoulders pattern after invalidation of the bearish flag pattern as expected.
Price may not have shown you clear direction based on how you approach market, but it gave me a clear direction from my market approach.

This doesn't resemble head and shoulders pattern to me, there is no neck and the right shoulder has no peak

Nas 100- The sells continuations happened. Price has form a bearish channel signalling it's intentions to continue bearish.

There are different variations of Head and Shoulders pattern. There are simple head and shoulders pattern, and there are complex head and shoulders pattern. There are some that the shoulders form visibly on higher timeframe, while there are some that the right shoulder is more visible on Lower timeframe, than HTF the first. and then Price will return to form the HTF right shoulder.

Not all Head and shoulders pattern appear exactly as the examples in textbooks. Real chart applications are often more complex than textbook.

Here's the breakdown of the charts, and where the neckline is.

All I can see is the peanant pattern that has been broken to the downside

Okay. When it forms the visible Right shoulder that everyone understands, I'll draw attention too. That particular Variation of HnS is LTF. The HTF has not formed yet.

Check this 15mins HnS out, seems this is the clear variation everyone easily spots except the head is double which most people only understand single head.