The NAS100’s 2024 price trajectory continues upward after an epic end of May bull reset.

My May 16 long trade plan has exited in a stop loss with only 50 points left off its take profit target!

https://www.finlogix.com/analysis/20240516/nas100-intraday-analysis-and-trading-plan-for-may-16-2024

An updated record of 4 wins and 5 losses.

Join me as I share new analytical developments for the NAS100 index.

There are 9 American high impact economic reports this week.

Re-assessing NAS100’s high timeframe candles:

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

Monthly Candle: Previous close is a Green Body with a Longer Head Wick current is Developing a Small Green Hammer

Weekly Candle: Previous close is a Red Body with a Longer Tail Wick current is Developing a Green Body with a Longer Tail Wick

Daily Candle: Previous close is a Green Semi Dragonfly Doji current is Developing a Green Body with a Longer Tail Wick

This is shown clearly in the 4H chart the epic bullish rebounds from May 10-15 sideway range’s order block with the nearby 4H 50-SMA as the resistance.

We can also see strong sell side liquidity pick up under May 18’s low which helped the back to 18550-18950’s lower range.

I think NAS100’s pullback potential is already through in June and bulls are likely going to drive the index’s price towards May’s head wick’s territory only.

My previous long trade almost hit its 19000 take profit before fatefully hitting its stop loss from the epic bull reset.

Remember my trading advice that we can close out winning positions within their 50% TP target to prevent this frustration.

Even so, I remain a buyer for the index speculating a bullish June month.

Now that price is exchanging hands in the 18550-18950 range again, I like to enter at the current 4H candle as we speak targeting the same take profit level last May 16 with a tight stop loss May 18’s low.

Here are the new long entries to observe:

Actually the entry is the same as before.

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 June 3, 2024

Jun 03 2024

Stop Loss -0.91%

Holding time 6hr

18619.36

Entry price

18449.86

Stop loss price

1