NASDAQ weekly Projections

Price formed a double top pattern on 15mins at 30198 price level, a very effective bearish reversal pattern. With the neckline broken, a pullback into the neckline region at 30060 price level can present opportunity for sell continuations.

NAS 100- Daily Update
The week started with buys into the 30200-30250 price level, and rejected strongly below last week's high at 30184. A retest of that price level will present good sell opportunity to follow the retracement down, with today's high at 30246 as our invalidation level.

NAS 100- Daily Update
Nas 100 invalidated the bullish channel and has broken below the minor support at 29,845. Waiting for the retest of the level, then I'll join the sells with SL at 30,100 and TP at 29000.

Expecting the Weekly Sells to possibly push down to first to 29226, if it breaks below, then push further to 28917 price level before buy continuations will kick in.

With the Potential Head and Shoulder formation on Nas 100, I'll be paying more attention to short trades on Nas 100 tomorrow. Entry Level at 29842, SL at 30002, and TP at 28917.

From a bigger picture on Nas 100, I'm expecting the replication of this volume on the right side of the chart at the 28917-price level.

With the invalidation of this bearish trendline, the current sells are retracements, and caution needs to be applied for one not to be carried away with the sells and forget it's not the main trend for the month. expect buy continuations within the 29000-28,000 price region.

Currently on Nas100, this week will possibly close bearish because it is in a correction phase. Then Next week, we can expect it to continue its rally from the 29000 Reaction zone.

NAS 100 Daily Update
The sells on Nasdaq for the past 2 trading days this week, has engulfed the entire buys on the asset for last week, this signals that the bears are heavily present this week. there's more possibility of price pushing further down to the 29,000-price level before strong bullish activities set in.
Expect high volatility on Nas 100 today because of the upcoming July FOMC minutes release by 7pm today.

The Upcoming FOMC minutes for July by 7pm today will set the tone if the FEDs are more concerned about inflation and willing to cut, or if they are more concerned about growth/labor conditions.
The July meeting Kept rates at 3.50-3.75%, and today is the release of the minutes of that meeting.

Nas 100- On 4hrs, I'm expecting Buys today with price pushing back to the 29900-resistance level, Forming the right shoulder of the Crown pattern. Then I'll follow up the sells with SL at 30100 and TP at 28604.

NAS 100- To trade the Buys, I'll wait for price to complete the formation of the new demand zone, by closing the Current 4hr candle with an Impulse/momentum candle breaking above 29550 price level. Then I'll join the buys on retest of the new demand zone. On 4hrs this will be visible as a 4hr Bullish Engulf Pattern.

NAS 100- Trade Setup
Bias-Bullish
Trade Type: Long Scalps

Idea/Approach: Waiting for a break above the 15min high @29540 that gave the most recent low, invalidating the bearish Leg, and signaling a shift to start a bullish leg.
Once a correction leg follows after the break, I'll set my limit at the right shoulder of the potential Crown pattern formation, with SL below the Head and TP at the 4hr Bearish Crown right shoulder level.

Execution: Buy Pending order
Analysis TF: D1/4hr/1hr/15mins

Entry: 29444
SL: 29351
TP: 29821

Comment: Trade Idea will expire by 2pm New Session, if all the criteria are not met, and Trade review will be done.

Nas 100 Trade Update
The momentum of price into my entry zone is strong, but I'm in.
Entry-29441
SL-29336
TP-29845
Let's watch out how it goes.

Nas 100 trade Update
I closed the trade after the strong buys kicked in. when I noticed the pump, I check when the 4hr is closing and realize it's by 2pm, and a new 4hr will bring a new narrative for the New York session.
Often times, I pay attention to each 4hr closures especially the zones they are closing at, whether at a support or a resistance. That often give a clue, as to what price will likely do in the next 4hrs.

But what exactly pumped market this afternoon

NAS 100- Trade Setup Update
Bias-Bearish
Trade Type: Long Scalps

Trade Review at 2pm: I spotted this line Chart resistance at 2pm, when the momentum buy rally kicked in, then realized price will possibly not get to my TP, so I decided to take profit manually, then wait and observe if price will present re-entries, or will change the next 4hrs narrative.
Entry: 29444
SL: 29351
TP: taken manually.

Comment: The trade Idea played out before it's expiry at 2pm.

Nas 100 Trade Setup Update

Trade Outcome:
Entry 1: +$191.95
Entry 2: +$1013.75
Total: +$1205.7

Comment: The buy scalps went successfully.
I'm still watching out how the Daily candle will close. That will add up as part of my trade Idea for tomorrow.

The US treasury department made public statement in the morning today, saying they will buy more US government bonds. This statement signifies a risk-on environment, and we just saw the impact on New York Session Open at 1.30pm.
Buying more bonds implies lower yields, relieving pressure on financial assets especially indices and commodities.
it also causes the Dollar to weaken, causing Gold and Silver and Major Currency Assets to pump powerfully.

Yeah saw that