Navigating Market Trends: Nasdaq Retracement Signals
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I am currently observing the US100/Nasdaq on the 4-hour chart, and in my analysis, it appears that we are poised for a retracement lower. This week, there was a rejection from the weekly rejection block dated July 23, 2023, situated in the upper quadrant. 📉
There is a noteworthy weekly correlation with ES/US500 from August 28, 2023, to the present week. While Nasdaq managed to surpass the previous high, ES fell short. Consequently, I anticipate a downward movement. If today's candle closes below 15905, we would establish a bearish order block, adding another layer of confluence for a potential retracement lower. đź“Š
Upon examining the 4-hour chart, there seems to be a developing breaker formation. If this breaker takes shape and the market tests it tomorrow or in the coming week, it could present lucrative selling opportunities with a favorable risk and reward ratio. đź’° #MarketAnalysis #TradingInsights #TechnicalAnalysis #FinancialMarkets
There is a noteworthy weekly correlation with ES/US500 from August 28, 2023, to the present week. While Nasdaq managed to surpass the previous high, ES fell short. Consequently, I anticipate a downward movement. If today's candle closes below 15905, we would establish a bearish order block, adding another layer of confluence for a potential retracement lower. đź“Š
Upon examining the 4-hour chart, there seems to be a developing breaker formation. If this breaker takes shape and the market tests it tomorrow or in the coming week, it could present lucrative selling opportunities with a favorable risk and reward ratio. đź’° #MarketAnalysis #TradingInsights #TechnicalAnalysis #FinancialMarkets
Nota
daily candle didnt close like i want to see it so am waiting for more confrimationDagangan aktif
change of character done 15 minutes lets see how it goesNota
up one R, lower time frame gave nice rrDagangan ditutup secara manual
Initially it give nice one r bt with After Jerome Powells Comments signalling the Feds work is Nearly done with Inflation, am out at breakeven
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