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Trading Signals for NAS100
The NAS100 is currently approaching the resistance line of a Triangle pattern, indicating a potential trading opportunity. This pattern suggests that the NAS100 could reach the resistance line within the next 2 days. It is important to note that the NAS100 has tested this line multiple times in the past, which could result in a similar outcome this time – a rebound instead of a breakout.
Trading Strategy:
- Wait for the NAS100 to reach the resistance line of the Triangle pattern
- Monitor the price action closely for a potential breakout or rebound
- Consider placing a buy order if the NAS100 breaks above the resistance line
- Consider placing a sell order if the NAS100 fails to break above the resistance line and shows signs of a rebound
Technical Indicators Used:
The trading strategy for NAS100 is based on analyzing the price action in relation to the Triangle pattern’s resistance line. Additionally, traders may consider using the following technical indicators:
- Relative Strength Index (RSI)
- Moving Averages
- Bollinger Bands
Correlated Assets:
The NAS100 is closely correlated with the US stock market, particularly the S&P 500 index. Traders may also consider monitoring other major indices such as the Dow Jones Industrial Average (DJIA) for potential trading opportunities.
Economic Calendar Events:
Traders should keep an eye on upcoming economic calendar events that could impact the NAS100, such as:
- US Non-Farm Payrolls
- Federal Reserve Interest Rate Decisions
- US GDP Data Releases
By staying informed about these key events, traders can better anticipate potential market movements and adjust their trading strategy accordingly.
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