NAS100USD H4 | Potential bearish breakout

Past performance is not indicative of future results.

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

Type
Bearish Breakout

Title
NAS100USD H4 | Potential bearish breakout

Preference:
Price is falling towards the pivot point of 16542.7 which is a pullback support and could potentially break under this level; we could see momentum carry price down to its 1st support at 16321.47 which is a support level that aligns with a confluence of Fibonacci levels i.e. the 50.0% retracement and the 161.8% extension.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 16611.94 which is a pullback resistance level.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% and 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

منبع: https://www.tickmill.com/blog/nas100usd-h4-potential-bearish-breakout-3rd-january-2023

توسط رضا خانتاراج

رضا خانتاراج

مشاهده همه نوشته ها رضا خانتاراج.