Nasdaq100 08/01/2023 Analysis

2023年1月8日

So guysss first i want to wish each and every trader a happy and prosperous trading year.

I've been off for a few days, due to the fact that i have exams i have to partake in, but here is my take on the lady Nas;

This analysis is based on the 1h chart, because i always say, that the minor timeframes show u what the marketprice is doing as is, but the major timeframes give u the indication where the price is going in the longterm. So, based on the 1 hr, we see that that the market made a major price drop last week, and continued into a price accumulation. If i look at the market structure, i expect a breakout/retest from the accumulation, continued with a price impuls upwards.

The anticipated target hit for this week will most likely be the $12000 range. Be also mindful of the fact that on the 4hr chart we can clearly see a descending trendline. Also take notice of the potential news releases this coming week.

With that said, i will make sure i capitalize on the trades this week, and also keep in mind that the market tends to change its structure midweek stride.

Happy Trading 👏📍