2022/02/05 12:19 PM – NASDAQ 100 MINI FUT -W1/D1/ H4/H1 – ONGOING DOWNTREND !

NQ1-100-MF-ONGOING DOWNTREND ! by Ironman8848 on TradingView.com

WEEKLY (W1)

Last week price action is showing a failure to recover and hold above both Tenkan-Sen @ 15’182 and the Mid Bollinger Band @ 15’577 which, for the time being is confirming that the recent recovery was a corrective move only in a broad new bear trend.

Look at the shape of the last candle and make your conclusion !

RSI below 50, @ 43.62

Lagging line is in the middle of the uptrend channel , slightly above the TS .

So, in this weekly time frame there are 2 levels to look at :

UPSIDE : 15’200
DOWNSIDE : CLOUDS SUPPORT AREA (14’127-12’914)

BY THE WAY, MY FIRST STRATEGIC TARGET IS AND REMAINS @ 12’894

DAILY (D1)

The failure 3 days ago to confirm the upside breakout of the secondary downtrend line, the MBB and the KS , ( doji confirmation =uncertainty !) triggered this reversal in pushing down again the Nasdaq to retest the Tenkan-Sen (14’545), which for the time being acted as the daily support.

This ongoing downside price action is expected to continue over the upcoming trading sessions, calling for 14’350 ahead of the daily congestion bottom reached at the end of January between 13’706 and 13’830 which also coincides with the top of the weekly clouds support area (in overlay on the daily chart ).

RSI below 50, @ 43.20

Lagging line below the clouds and the TS .

On this daily time frame, a sustainable recovery above the Mid Bollinger Band (14’945) would temporary neutralise the ongoing downside risk and a breakout on a daily basis of the Kijun-Sen (15’136) would reopen the door for higher level towards the daily clouds resistance area .

4 HOURS (H4)

Watch closely the clouds support area (14’550-14’380) as a failure to hold above this zone would, firstly, put direcly, the focus again on the former congestion bottom of end of Jan (13’830-13’706) ahead of
lower levels.

1 HOUR (H1)

Below the clouds and the Mid Bollinger Band

Caught between the cluster support of TS KS and MBB .

On this hourly time frame, watch the following levels (hourly closing basis !) :

UPSIDE : Hourly clouds (14’727-14’858)
DOWNSIDE : 4 hours clouds (14’540-14’212)

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.