THOUGHTS ON NASDAQ
NASDAQ 4H - As you can see above, here are my thoughts for this market, I would like to see price trade us lower initially trading into an area of Demand I have marked out. Offloading Supply and introducing Demand.
From here we can expect a turn around and we can begin looking at placing positions in this market to trade it higher, up and into the Supply Zone above. Once price does trade us up and into the Supply Zone this is where we will look to close our long positions and prepare to short.
I am expecting longer term bearishness in this market as there are fears for the US economy fundamentally and technically we have a large area of Supply there that I believe price will want to reverse from.
Once price trades into the area of Supply, I am expecting enough Supply to be introduced to flip the current correction price is putting into this market starting the next impulse.
From here we can expect a turn around and we can begin looking at placing positions in this market to trade it higher, up and into the Supply Zone above. Once price does trade us up and into the Supply Zone this is where we will look to close our long positions and prepare to short.
I am expecting longer term bearishness in this market as there are fears for the US economy fundamentally and technically we have a large area of Supply there that I believe price will want to reverse from.
Once price trades into the area of Supply, I am expecting enough Supply to be introduced to flip the current correction price is putting into this market starting the next impulse.
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