Hey Traders so looking today at the Nasdaq 100 it's looking really bullish confirmed with 3 bar trendline.
However we are now approaching resistance of this all time high at 22,820 after bounce off support at around 21,500.
So I believe it's a good place to buy on pullback to trendline at around 21,900. This level is 50% of the last big candle with is showing strong bullish momentum.
With Stop under support around 21,400
As it approaches resistance it can do 3 things.
Break through, Pause, or Reverse so will be keeping on eye on how it reacts at that level.
So if bullish watch for pullback if bearish I would not short right now too much buying momentum or at least wait until market breaks suppport or trades below downtrend line.
Always use Risk Management!
(Just in we are wrong in our analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)
Good Luck & Hope This Helps Your Trading 😃
Clifford
However we are now approaching resistance of this all time high at 22,820 after bounce off support at around 21,500.
So I believe it's a good place to buy on pullback to trendline at around 21,900. This level is 50% of the last big candle with is showing strong bullish momentum.
With Stop under support around 21,400
As it approaches resistance it can do 3 things.
Break through, Pause, or Reverse so will be keeping on eye on how it reacts at that level.
So if bullish watch for pullback if bearish I would not short right now too much buying momentum or at least wait until market breaks suppport or trades below downtrend line.
Always use Risk Management!
(Just in we are wrong in our analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)
Good Luck & Hope This Helps Your Trading 😃
Clifford
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.