NAS100 FVG and Resistance could signal bearish movement

Currently looking at the daily FVG as well as resistance on the daily at 19,700. I envision two possible scenarios:

A run up to 19,700 before heading down to fill the gap
OR
A more immediate move to fill the gap before continuing the bullish trend

Retail sales data and Fed news on tap this week so that might push the market in either direction. Either way, I can see that gap being filled sooner rather than later.

Not

Rejected the 19,600 area on the 4H chart.

That area is proving to be a strong area of resistance as price action has rejected it 3 times recently. This may indicate some downward momentum.

Fed news up tomorrow.

Not

Fed rate cuts drove the price up during the end of the NY session and also during the Asia session. New areas of resistance are around 19,800-20K.

Waiting to see what happens in those zones.

İşlem aktif

Opened a short to target the FVG.

İşlem aktif

Even though there's been some upward movement, that area of resistance is still holding. SL is set at 20,100.

Not

Trade is still active. NVIDIA experiencing a 4% increase today which is driving NAS up. May get stopped out today if this rally continues. Otherwise, continuing to hold.

Also, let this be an example of removing emotion from your trading. You're not always going to get it right, and sometimes you have to hold longer than normal, to achieve your desired result. It may not work out, but the alternative is getting out too early. Risk vs. Reward.

İşlem kapandı: durdurma seviyesi

Trade was stopped out at 20,100.

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.

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