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Date: 7/12/2021
Pair: NAS100USD
Direction: Bullish
Potential Levels of Entry:
14830 (strong)
14750 (Medium)
14610 (Strongest)
DAILY
DAILY
We can see that price is creating resistance by looking at the closure of the previous candle. That 14830 level provided some relief for the market but price is already breaking above to start the week. If we see price hold above this newfound support then we can buy entries at the retest. The overall trend is bullish so we’re looking to continue to trade with the markets direction.
4-Hour
4-Hour
The 4 hour timeframe lets us see more detail on what's happening with price today. Although we have a minor double top forming we continue to make higher lows (Bullish movement). If the trend continues the way it is then we can buy the retest of the breakout once the market confirms that direction.
Roy Dunia
ChartAddicts
7/12/2021
*Forex is a leveraged product and may not be suitable for you as it carries a high degree of risk to your capital and you can lose more than your initial investment. You should ensure you understand all of the risks. By undertaking these types of high risk trades you acknowledge that you are trading with your available risk capital and any losses you may incur will not adversely affect your lifestyle. The high degree of leverage can work against you as well as for you.