NAS100 on 2 Hour

12 oct. 2024

Price is following a uptrend structure making higher highs & lows. Price is now in a consolidation range, and has rejected the top of the range 3 times, which also aligns with a powerful area of previous resistance looking left.

I am looking for price to test the bottom of the consolidation range, which aligns with a key area of support & structure. I will be looking for a 3rd rejection at the bottom where I am anticipating a heavy ammount of momentum where buyers may step in, to continue the uptrend back to the top of the range, & if that is broken then a new potential higher high into the regions above.

No need to guess which way price will go, rather looking at where I can get the highest probability setups.

12 oct. 2024

Note

30 minute timeframe: More in depht view of the how price is reacting from the zones in the consolidation range. Looking for lower timeframe confirmation back at the support zone and range bottom (rejection / reversal candlesticks) for bullish confirmation that price will resume the uptrend.