Nasdaq 100 E-mini-Futures - D1 - MAJOR DOUBLE TOP IN PROGRESS !
M1 : Still, for the time being in an ongoing uptrend channel.. but long black
candle in progress should be seen as a first warning signal of a trend reversal
in progress which should of course be confirmed on M1 closing at the end of May.
W1 : Under the influence on a major double top formation in progress with its trigger
level @ 12'207; if activated target is @ 10'350 roughly the bottom of the W1 clouds support
area
D1 : A secondary double top has been confirmed and the target has already been reached.
In addition, we can see a switch mode from bullish to bearish with a new downtrend which
took place from the double peak @ 14064 !
Currently below MBB anf the cluster TS and KS
Nest significant support in this time frame is around the 13'000 area. Warning have a look
at the thickness of the clouds which is very thin around 13'000 = fragility !!!
Below 13'000 focus will be on 13'600, low of March 25th.
H4 : Below the clouds and below all MBB,KS and TS
In order to neutralise the ongoing bearish pressure, we need to see a sustainable recovery, at least
above 13'600/13700 (clouds resistance area !)
H1 : Below the clouds. Watch MBB as indicator
M30 : Below the clouds too, also watch MBB
M15 : same than H1 and M30, watch also MBB
M5 : Recovery, corrective attempt, facing already the clouds as first resistance area
CONCLUSION :
SWITCH HAS BEEN DONE FROM A BULL TREND TO A BEAR ONE.
Therefore, it is not anymore a buy on dips mode but a sell on rally
candle in progress should be seen as a first warning signal of a trend reversal
in progress which should of course be confirmed on M1 closing at the end of May.
W1 : Under the influence on a major double top formation in progress with its trigger
level @ 12'207; if activated target is @ 10'350 roughly the bottom of the W1 clouds support
area
D1 : A secondary double top has been confirmed and the target has already been reached.
In addition, we can see a switch mode from bullish to bearish with a new downtrend which
took place from the double peak @ 14064 !
Currently below MBB anf the cluster TS and KS
Nest significant support in this time frame is around the 13'000 area. Warning have a look
at the thickness of the clouds which is very thin around 13'000 = fragility !!!
Below 13'000 focus will be on 13'600, low of March 25th.
H4 : Below the clouds and below all MBB,KS and TS
In order to neutralise the ongoing bearish pressure, we need to see a sustainable recovery, at least
above 13'600/13700 (clouds resistance area !)
H1 : Below the clouds. Watch MBB as indicator
M30 : Below the clouds too, also watch MBB
M15 : same than H1 and M30, watch also MBB
M5 : Recovery, corrective attempt, facing already the clouds as first resistance area
CONCLUSION :
SWITCH HAS BEEN DONE FROM A BULL TREND TO A BEAR ONE.
Therefore, it is not anymore a buy on dips mode but a sell on rally
