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Nasdaq Awaits Inflation Data; Bullish or Bearish Breakout ExpectNasdaq Technical Analysis Today’s inflation report is anticipated to drive significant market movements, particularly following unanimous agreement among Fed members to cut rates by 50 basis points. A CPI release exceeding 2.3% is expected to support a bearish trend towards 20100. Conversely, a CPI below 2.3% would likely drive a bullish trend, targeting 20450. Technically: as long as trades under 20280 will try to touch 20100 and then should stabilize below that to continue the bearish trend, Otherwise, stability above 20340 will reach 20450 Key Levels: Pivot Point: 20280 Resistance Levels: 20440, 20710, 20920 Support Levels: 20100, 19990, 19860 Trend: - Bearish below 20280 - Bullish above 20320
OANDA:NAS100USD
by SroshMayi
NASDAQOverview Market: NAS100 (NASDAQ 100 Index) Time Frame: 1-hour chart (indicated by the "1H" labels) Key Concepts: The chart incorporates Wyckoff methodology, harmonic patterns, and Fibonacci retracement levels. Key Components Market Phases: Phase A: Indicated at the bottom of the chart, represents the initial accumulation phase. Phase B: The current market phase where distribution is occurring, highlighted by significant price levels and the potential for selling pressure. Phase C: Marked on the chart as a potential accumulation phase after distribution completes. Significant Price Levels: Support and Resistance: Resistance line at around 20,233.3, acting as a critical level to watch. Support levels at 19,962.5 and 19,744.5. Invalidation Points: Points where the bullish or bearish bias may change if reached, such as the "INVALIDATION POINT" at 20,318.5. W Close: Marked at 20,318.5, indicating a significant price area related to potential price reversals or continuation. Harmonic Patterns: ABC Structure: A visible ABC structure can be identified, with specific Fibonacci retracement levels, suggesting potential reversal or continuation points. Potential for Further Downside: The labels suggest that further downside movement may occur after a retracement, with potential targets outlined. Volume Profile: The volume histogram at the bottom shows trading activity across price levels, providing insight into areas of high interest and potential supply/demand zones. A significant spike in volume is often indicative of potential reversals or continuation patterns. Fibonacci Levels: Retracement Levels: Specific Fibonacci levels are marked, such as 0.236 and 0.272, which indicate potential reversal zones. Extensions: Levels like 1.236 help in identifying possible price targets or extensions based on the harmonic pattern identified. Trading Signals: "SOW IN PHASE B": This indicates selling opportunities within the current phase. Targets for Short Positions: Target prices for potential shorts are mentioned, such as 19,744.5 (indicating a drop from the current price). Conclusion This chart provides a comprehensive analysis based on Wyckoff's distribution and accumulation phases, supported by harmonic patterns and Fibonacci retracement levels. The trader should focus on the critical price levels mentioned, watch for volume changes, and consider potential entry/exit strategies based on the outlined phases and patterns.
PEPPERSTONE:NAS100Short
by spacedevil
1
NAS100 - CPI Day: Anything is Possible!20SMA - Blue 200SMA - Pink Key Confluence areas - Grey Lines How I see it: 1) As long as price stays supported by 20SMA, Rally will continue. 2) A break below 20SMA could allow a correction to green zone. 3) If Support holds above 20100, price could continue to new HH's. 4) A "break and hold" below 20100, could see price break down beyond 20000. Very high volatility day, never try to actually trade "THESE" major events! There is always more than enough, manageable price action afterwards. Thank you for your time reading, boosting or following my analysis.
PEPPERSTONE:NAS100Long
by ANROC