The NAS100 bulls have successfully breached above the 20000 mark leading to a new all time high record!

As a result, my June 13’s long trade plan has exited in another profit after holding for 20 days:

https://www.finlogix.com/analysis/20240613/nas100-intraday-analysis-and-trading-plan-for-june-13-2024

An updated record of 7 wins and 6 losses.

There are 3 remaining high impact data releases in the US tomorrow Friday.

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 a Green Body with a Longer Tail Wick

Weekly Candle: Previous close is a Red Long-Legged Semi Doji current is a Green Body with a Longer Tail Wick

Daily Candle: Previous close is a Green Body with a Longer Tail Wick current is a Red Small Doji

I will be referencing the swing low to high move from June 25 to July 4 as the retracement points of view.

Assuming today’s high as the local resistance for the next wave down, then the 4H bullish FVG formed last June 12 can be put to the test as the next buy zone.

However, the recent 3 4H candles are tightening in a narrow range with another possible breakout to happen that can target price as high as the 20700 level.

I admit It will be very greedy to enter a new long position now.

Given the current macroeconomic and US inflation updates, a big price correction is out of the picture so the NAS100 index is bound for more bullish momentums.

After my successful long trade previously, I like to re-enter a new buy position through the bullish FVG area mentioned with a considerable stop loss level and a 3.25 RRR take profit target.

A much needed price correction must take place for this to happen. I can wait patiently and give enough time. I can also adjust for the next trade if the price breaks out higher any moment soon.

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.

The NAS100 index remains bullish this mid 2024 even with only 1 possible Fed rate cut.

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

NAS100 Intraday Analysis and Trading Plan For July 4, 2024

Jul 04 2024

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