NQ1! NAS100 NASDAQ 2023 MAY 01

NQ1! NAS100 NASDAQ 2023 MAY 01

NQ remains in rotation. The week yielded 400pts profit based on
discretionary trade taken on 24 April and Scenario4 trade taken on
27 April. (Refer to analysis provided for week of 24 April for
Scenario4). Next, wait for price reaction to 13350.


Possible scenarios:
1) Market stuck in a 250pt range, wait till supply/demand is
resolved
Then:
2) Breakout of upper boundary to test 13740
= long at support of upper boundary of range
3) Breakdown of lower boundary of range
= Short on rejection of 12950
4) If you can't live without trading, you may look for long on
support between 12950-13040 | Short on rejection
between 13350-13212

Volume Analysis:
Daily: Supply and demand almost in equilibrium at this tiny
rotation.
Mark up on average volume last Friday, stopping at resistance 13350.
Don't chase long, wait for price reaction.

Price reaction levels:
Short on Test and Reject | Long on Test and Accept

14361 13740 13350
13316 12950 10710 - 11068

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Have a profitable trading week ahead.
*For educational purpose only.