NAS100 Daily outlook | Bias Bullish
I was looking for Nas100 characteristics around elections on a daily timeframe.
I found some similarities:
2016 Market Top (4906) was 34 bars before the E-day, it never came back to the same levels.
2020 Market Top (12467, 2.54x) was 44 bars before the E-day, it broke down these levels in Jun-Dec 2022.
2024 Market Top (20758, 1.665x) was 83 bars before the E-day.
Last Friday before the election seems important in both (16/20) cases as it became a major support for the next cycle.
IMO, Friday would be bearish but S1(19600), and S2(19290) seem like important levels for the uptrend to sustain, Friday should not go beyond S1.
With a bullish Bias, I would wait for Friday to close and then like to do either of the following:
Instant order on green candle close with stoploss on S2
Buy Stop on the market top break with SL under S1
Would love to know what you think.
I found some similarities:
2016 Market Top (4906) was 34 bars before the E-day, it never came back to the same levels.
2020 Market Top (12467, 2.54x) was 44 bars before the E-day, it broke down these levels in Jun-Dec 2022.
2024 Market Top (20758, 1.665x) was 83 bars before the E-day.
Last Friday before the election seems important in both (16/20) cases as it became a major support for the next cycle.
IMO, Friday would be bearish but S1(19600), and S2(19290) seem like important levels for the uptrend to sustain, Friday should not go beyond S1.
With a bullish Bias, I would wait for Friday to close and then like to do either of the following:
Instant order on green candle close with stoploss on S2
Buy Stop on the market top break with SL under S1
Would love to know what you think.
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