Since printing the local low exactly at the end of March, NAS100 has moved in an almost vertical fashion, climbing aggressively toward the 30k zone.
But more importantly than the level itself is the magnitude of the move:
➡️ The index gained roughly 35% in only a few weeks.
That is an enormous rally for an index of this size.
However, since the beginning of last week, momentum started to cool off.
Yes, on Friday the market managed to print another all-time high, but the important detail is what happened after:
the rally was rejected quickly, the gains were erased, and now the index is sitting directly on key support.
At this moment, the short-term structure resembles a rounded top formation — a pattern that often signals exhaustion and potential reversal.
Of course, patterns alone mean nothing without confirmation.
But if support finally breaks properly, this could become the trigger for the first meaningful correction after weeks of almost uninterrupted upside.
Why I believe a correction makes sense:
- The move from March lows has been extremely vertical
- Momentum already started slowing down
- Friday’s ATH failed to attract continuation buying
- The current structure suggests exhaustion rather than expansion
And historically, this type of parabolic price action rarely lasts forever without at least a significant reset.
Trading plan:
I’m looking for selling opportunities if the market confirms weakness with a clean break of support.
Main downside target:
🎯 26k zone
At this stage, for me, the bigger risk is not missing another 2% upside…
but being trapped long when the market finally remembers gravity exists 🚀
But more importantly than the level itself is the magnitude of the move:
➡️ The index gained roughly 35% in only a few weeks.
That is an enormous rally for an index of this size.
However, since the beginning of last week, momentum started to cool off.
Yes, on Friday the market managed to print another all-time high, but the important detail is what happened after:
the rally was rejected quickly, the gains were erased, and now the index is sitting directly on key support.
At this moment, the short-term structure resembles a rounded top formation — a pattern that often signals exhaustion and potential reversal.
Of course, patterns alone mean nothing without confirmation.
But if support finally breaks properly, this could become the trigger for the first meaningful correction after weeks of almost uninterrupted upside.
Why I believe a correction makes sense:
- The move from March lows has been extremely vertical
- Momentum already started slowing down
- Friday’s ATH failed to attract continuation buying
- The current structure suggests exhaustion rather than expansion
And historically, this type of parabolic price action rarely lasts forever without at least a significant reset.
Trading plan:
I’m looking for selling opportunities if the market confirms weakness with a clean break of support.
Main downside target:
🎯 26k zone
At this stage, for me, the bigger risk is not missing another 2% upside…
but being trapped long when the market finally remembers gravity exists 🚀
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📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.