i am selling nasdaq at 7713.00OANDA:NAS100USD I Have checked my index and finally came to conclusion that I am going to sell, looking at the 1D chart a formation of a bearish movement seems to be continuing, though there is a possible retest to the 7773.00 area, my final confirmation to this pair is to sell it and hope for the best until my target at 7465.20
Nas100short
NAS100 - Indices Trading | Elliott Wave Structures | Q2 2019*Please support this idea with a LIKE if it helps you. Thanks!
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NAS100 - Elliott Wave Outlook
Bearish Swings - Patterns:
Complex Flat in Cycle Wave (IV) (green)
Primary W (purple) - Zig-Zag
Primary X (purple) - Complex Triple Three
Primary Y (purple) - Simple ABC Swing
Bullish Swings - Patterns:
Bullish Impulse in Primary 1 (pink)
Intermediate (1) (green) - Impulse
Intermediate (2) (green) - Complex Correction
Intermediate (3) (green) - Bullish Extension
Intermediate (4) (green) - Sharp Correction
Intermediate (5) (green) - Extended Ending Diagonal
Next expected swing:
Bearish sequence in Primary (2) (pink)
Structure change:
Breach of the lower trend-line could lead towards Primary (2) (pink) already unfolding.
Lets Short NAS100Chart shows weakness at the 50 EMA resistance, large probability of a pullback anytime soon.
Price might bounce off of the 100 EMA, but support is weak as shown earlier.
Short near 7760 or wait for market open.
SL 7815
TP 1 7690
TP 2 7660-50
Let's make that money!
Best regards, WidTrade
NAS100 Short - Trend Reversal, Awaits Demand ZoneFor the past 13 months, NAS100 has stayed about the 6200-6300 supply zone to maintain an overall bullish trend.
However, since this level has been broken, it could simply mean that the bull is out of steam and the bear is taking charge now.
This can be further confirmed by the recent appreciation of some of the safe haven asset such as gold and Swiss franc.
While the price has broken through deeply, the retracement also appears nothing close to shallow.
Wait for the price to retrace further into the demand zone at 6500 to sell.