We see clearly the rejection on h4 downtrend .
2ndly we have a downtrend h4 channel .
3rdly failing to get back above 15080
This is my analysis of NASDAQ under the 4H time frame
Trend line was broken and I notice significant BEARISH momentum in play with the last 3 candles.
I await for a break of structure and confirmation candle to close below said structure. I entered on the 1H / 30min time frames.
in the previous post we saw a big move to the upside prior to US open, this opened alot of demand inflow to catch alot of buy volume on the wrong side before price reversed to the downside.
Bulls are only in control if we continue to hold price above 15000.
If price breaks and closes below 15000, we could see a bear phase to 14500 giving a trading range of 500 points. Best bet is to wait for clear bearish signs on H4 to ensure no fake outs. All the best
2ndly we have a downtrend h4 channel .
3rdly failing to get back above 15080
This is my analysis of NASDAQ under the 4H time frame
Trend line was broken and I notice significant BEARISH momentum in play with the last 3 candles.
I await for a break of structure and confirmation candle to close below said structure. I entered on the 1H / 30min time frames.
in the previous post we saw a big move to the upside prior to US open, this opened alot of demand inflow to catch alot of buy volume on the wrong side before price reversed to the downside.
Bulls are only in control if we continue to hold price above 15000.
If price breaks and closes below 15000, we could see a bear phase to 14500 giving a trading range of 500 points. Best bet is to wait for clear bearish signs on H4 to ensure no fake outs. All the best
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We have reached our short entry zone now.. I have closed a couple of Longs for this setup
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