NAS100 (US Tech 100) – 2D Chart Buy Setup Explained

14 Apr

This chart presents a buy setup for NAS100 based on a confluence of technical analysis tools: Fibonacci retracement, demand zones, trendlines, price action, and breakout patterns. The chart indicates a strong bullish reversal potential.

🔧 Technical Tools Applied
1. Fibonacci Retracement Tool
The Fibonacci is plotted from swing low (~10,437) to the recent swing high (~22,255).

Key Fibonacci levels:

23.6% – 19,478

38.2% – 17,764

50.0% – 16,347

61.8% – 14,794

Price has bounced from around the 38.2% retracement, a prime bullish continuation zone in an uptrend.

2. Demand Zone (Green Box)
A large demand zone is marked in green between 16,300 – 17,800.

This zone aligns closely with the 38.2% to 50% Fibonacci levels, reinforcing strong buying interest from previous consolidation and breakout levels.

3. Trendlines (Yellow Diagonal Lines)
The long-term ascending trendline confirms the broader bullish trend.

Price touched and rebounded from this trendline, offering dynamic support.

A descending wedge/flag was broken, signaling trend reversal and a move to the upside.

4. Bullish Projection Targets
Target 1: ~5,689 points (34.38%) upside in 78 days with volume ~21.62M

Target 2: ~9,561 points (58.17%) upside in 164 days with volume ~21.62M

Two price projection paths are shown—aggressive and conservative—both aiming for new highs.

5. Price Action Confirmation
A strong bullish candle broke above the short-term correction pattern (yellow wedge).

The chart shows historical patterns where similar breakouts led to impulsive rallies.

Volume spike aligns with bullish momentum, confirming accumulation interest.

🧠 Summary: Why It’s a Buy Setup
✅ Criteria 📌 Explanation
Fibonacci Confluence Bounce from 38.2% level = strong bullish signal
Historical Demand Zone Price action confirms support and reversal
Ascending Trendline Respect Dynamic trend support held perfectly
Bullish Breakout Pattern Downtrend wedge breakout = continuation of uptrend
High-Volume Confirmation Big players participating (21M+ volume)
Risk-to-Reward Ratio Clean upside potential with minimal downside risk
🎯 Buy Trade Plan
Entry Zone: Current price (~18,800) or on retest around 18,000–18,300

Stop-Loss: Below 17,000 (below green demand zone and 50% Fib)

Target 1: ~22,200 (previous high)

Target 2: ~26,000–27,000 (measured move projection)

14 Apr

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17 Apr

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17 Apr

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17 Apr

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21 Apr

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22 Apr

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16 Mei

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