NQ1! NAS100 NASDAQ 2023 APR 24 WEEK
Last week Nasdaq was easy right? Why? - Cos no trades per scenario1 lol.
NQ continued to rotate.
Weaknesses have manifested, so if you are holding long, may be
a good time to take profit during this toppish structure.
Possible scenarios:
1) Market stuck in a 250pt range, wait till supply/demand is
resolved
Then:
2) Breakout of upper boundary to test 13740
= long at support of upper boundary of range
3) Breakdown of lower boundary of range
= Short on rejection of 12950
4) If you can't live without trading, you may look for long on
support between 12950-13040 | Short on rejection
between 13350-13212
Volume Analysis:
Daily: With the increase in supply volume and toppish market
structure, this may usher in another round of distribution
(i.e. selling)
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
14361 13740 13550
13316 12950 10710 - 11068
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Have a profitable trading week ahead.
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What is the reason that Nasdaq was easy.
Upside trend is still under the way.