NDQ100 break fridays high and i go long, though i worry that we need more time building support - holiday markets, so i personally will only go 25% size and add later if justified
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A video version of this commentary is included in the youtube link in my tradingiew profile.
As I have always said; "Any sells on the NAS100 are only temporary retracements to register a HL on a larger timeframe."
With Last weeks interest rate decision, a lot of volatility and panic was created by sellers reacting with panic as usual and the buyers capitalized on that by being patient and waiting for the storm to subsize.
The retracement took an entire week to come to a close and it was not until Friday that I saw the H1 timeframe breaking back in a bullish structure to close out the week of retracements to form a HL on the daily timeframe.
With the weekly candle expired again, it will be just a matter of time before the trend resumes it's responsibilities to complete another ATH.
So for this week, nothing has changed and I will continue to wait for my largest HL and buy to my Guaranteed ATH.
Remember to practice Use proper risk management practice on your demo accounts until you are comfortable Trust your analysis
📌 Reason for Entry: Since 21,074 is below Support 1, a buy trade is triggered. The Stop Loss is set at 20,967, and the first target is 21,228, followed by 21,402.
📌 Reason for Entry: Since 21,289 is above Support 1, a sell trade is triggered. The Stop Loss is set at 21,854, and the first target is 21,228, followed by 21,050.
💡 Summary NASDAQ is currently trading at 21,260.
Resistance Levels: 21,854, 21,988, 22,203 Support Levels: 21,050, 20,967, 20,833
Swing High: 21,311 Swing Low: 21,228
Intraday Buy: Enter at 21,074, targets 21,228 and 21,402. Intraday Sell: Enter at 21,289, targets 21,228 and 21,050.