2021/12/15 07:06 AM – NASDAQ 100 MINI FUT – D1 – HEAD AND SHOULDERS !!!

NQ1 100 MINI FUT-D-HEAD AND SHOULDERS! by Ironman8848 on TradingView.com


The ongoing Head and Shoulders formation detected on Dec 9th (see related ideas) is taking shape: indeed, looking at the recent price action we can see the following :

1) before yesterday (Dec 13th), a breakout of both, Mid Bolllinger Band and Kijun-Sen

2) yesterday Dec 14th), confirmation by a daily closing below the Tenkan-Sen.

Therefore, the former Tenkan-Sen support, currently @ 15’987 which was the former support should now be seen as the first significant resistance to look at ahead of the cluster ( KS and MBB 16’150-16’200) previously mentioned.

A failure to recover above 16’200 on a daily closing basis, would add further selling pressure, calling for a downside move towards the daily clouds support area , currently between 15’725 and 15’400).

Interesting to note that the 15’400 coincides roughly with the current level of the Head and Shoulders neckline !!! and breakout confirmation of this level would activate this H & S formation for a technical target of 14’348 which coincides with the former low of October 4th and also with the 23.6% Fib ret of the big rally, starting on March 23rd, 2020 @ 6628.75 towards the ATH @ 16’767,50 reached on Nov 22nd, 2021… [

RSI is below 50 (@ 47.71).

Have a nice trading day, all the best and take care !

Ironman8848 & Jean-Pierre Burki

Disclaimer / Avertissement :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

Toutes les opinions exprimées dans mes analyses sont les miennes et ne représentent pas les opinions d’une entité, quelle qu’elle soit, avec laquelle j’ai été, je suis ou je serai affilié. Toute action que vous entreprenez sur la base des informations contenues dans ces analyses est strictement à vos propres risques et ne doit pas être considérée comme un conseil. L’auteur n’assume aucune responsabilité pour toute erreur ou omission dans le contenu de ses analyses. Les informations contenues sont fournies “en l’état”, sans garantie d’exhaustivité, d’exactitude, d’utilité ou d’opportunité et sans aucune garantie de quelque nature que ce soit, expresse ou implicite.