The NAS100 bulls have overcome May’s external highs leading to a new all time record high above 19000 level!

As a result, my June 4 long trade plan has exited in profit:

https://www.finlogix.com/analysis/20240604/nas100-intraday-analysis-and-trading-plan-for-june-4-2024

An updated record of 5 wins and 6 losses.

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

There are 4 remaining American high impact economic reports starting tonight.

Re-assessing NAS100’s high timeframe candles:

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

Monthly Candle: Last check is a Small Green Hammer now a Green Body with a Longer Tail Wick

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

Daily Candle: Previous close is a Green Body with a Slightly Longer Tail Wick current is Developing a Small Green Spinning Top

Per my previous analysis’ call that June will be a bullish month has come true in yesterday’s epic rally after weaker US job figures results.

On the 4H chart above, we can see that the index’s May external highs got broken convincingly. On top of that, the second bullish 4H candle to the left has backtested that external highs forming break-away FVGs.

These two incidents will help in sending the NAS100 higher soon!

I’m successful in targeting the 19000 take profit level in my previous long call after initial failure.

The epic bull reset has really been helpful!

Today, I remain bullish and will be observing the current mini consolidating range for a further move up soon.

There’s no way for the bears to take over the situation.

I’m going to enter a long position in the second 4H candle to the left’s 50% body with a take profit target towards the 19400 level which is also the 1.618 fib extension if we take May 31 to June 1 swing low to intraday’s swing high.

The stop loss is carefully set at 18900 only which only proves the newly backtested May 2024 external high as resistant once more.

Here are the new long entries to observe:

The entry in this new long trade plan is actually the take profit level previously with a 4 to 1 RRR.

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 6, 2024

Jun 06 2024

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