The NAS100 bulls have created a new higher low trendline after a bullish order block helped reclaim the previous lower low channel.

As a result, yesterday’s short trade plan has exited in a stop loss:

https://www.finlogix.com/analysis/20240425/nas100-intraday-analysis-and-trading-plan-for-april-25-2024

An updated record of 2 wins and 3 losses respectively.

There are 2 remaining US major economic data to be released tonight after a 2-1 split result still favoring a stronger US Dollar.

Re-assessing NAS100’s high timeframe candles:

Yearly Candle: Still a Green Spinning Top since last check

Monthly Candle: Still a Red Body with a Longer Tail Wick since last check

Weekly Candle: Still a Green Body since last check but with a Longer Tail Wick

Daily Candle: Previous close is a Green Body with a Longer Tail Wick current is developing a Red Shaven Head

Every new bullish and bearish FVGs created are retraced right away but order blocks have been made in the process. This trading behavior indicates a choppy price action.

As May comes nearer, we expect more choppiness to end the current month.

Solid daily closing yesterday but still locked up in the current ranges.

If the current consolidation depicted in the blue rectangle above breaks down, there’s an order block in the 17500 range waiting that might help maintain the latest higher low trendline alive.

It’s good to see the price back in the bigger lower low trendline channel’s territory.

I change my instance to long the index after the higher low trendline is formed.

For now the choppiness continues in the NAS100 index and let’s look for valid order blocks!

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

NAS100 Intraday Analysis and Trading Plan For April 26, 2024

Apr 26 2024

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