Currently Nas100 is in a short term bear trend. I am long term bull biased but my trading strategy is all about observing how price reacts to certain levels/zones.
To begin 2022 I think the market will continue to sell off after weekly closing below old resistance. Although will not surprise me if the week does finish bull with nice bottom wick.
I have two recent demand zones from daily time frame.
Any trade will come off the zones...
strong daily wicks are good for longs, daily closes into and below the zone (breakthroughs) cancels long interest. Patience is always key
To begin 2022 I think the market will continue to sell off after weekly closing below old resistance. Although will not surprise me if the week does finish bull with nice bottom wick.
I have two recent demand zones from daily time frame.
Any trade will come off the zones...
strong daily wicks are good for longs, daily closes into and below the zone (breakthroughs) cancels long interest. Patience is always key