Hi traders,
Welcoming a new month, the US100/ UStech100 completed three black crows with the fourth bearish candle opening below our trend line. The begining of the three black crows marked our point C of the ABCD harmonic bullish trendhike that was formed confirming our next take profit point (D). Although the three black crows suggest a retracement that will form a bearish flag for us to enter on that breakout, we will opt to enter now and hold any possible drawdowns to take profit on point D. Please note that this is on the weekly timeframe therefore a retracement could be costly for small accounts. if you have a small account, we recommend entering a sell stop instead to catch the bearish move below our trend line and a sell limit to catch the bearish flag should it follow our three black crows rules.
We can now take a trade because we have more that three confirrmations and any more confirmations will allow us to trade this index agressively. Should the NAS100 complete this analysis accurately and not close below point D, we will have a clear long signal for the next 5 months. Please share your thaughts.
Discalimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
Welcoming a new month, the US100/ UStech100 completed three black crows with the fourth bearish candle opening below our trend line. The begining of the three black crows marked our point C of the ABCD harmonic bullish trendhike that was formed confirming our next take profit point (D). Although the three black crows suggest a retracement that will form a bearish flag for us to enter on that breakout, we will opt to enter now and hold any possible drawdowns to take profit on point D. Please note that this is on the weekly timeframe therefore a retracement could be costly for small accounts. if you have a small account, we recommend entering a sell stop instead to catch the bearish move below our trend line and a sell limit to catch the bearish flag should it follow our three black crows rules.
We can now take a trade because we have more that three confirrmations and any more confirmations will allow us to trade this index agressively. Should the NAS100 complete this analysis accurately and not close below point D, we will have a clear long signal for the next 5 months. Please share your thaughts.
Discalimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
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