NAS Long Swing update 2

25. Juni 2020

As we can see we have hit 2 Take profit zones from the major swing trade. We started to buy from 9417 to end up at the top at 10 300 I am now looking for more long with either a bounce from the 78(9955) or 61.8(9846) fib zone. We have seen some ranging again for last day and this to me has failed to close under the 9955 zone with brief touches lower on h4 before reaching up again signalling an accumulation zone for more upside. Before anyone says this is market manipulation, it has actually been proven that the fed has not pumped in that much money as we are dealing with a technology market and this is the time for technology to firstly grow but also showing us where the next few years will be heading after the pandemic has past. I am still bullish on this market long term and agree the moves we are seeing are much bigger however I have not seen a crash at all as yet not even the first initial drop as we respected a bottom trendline that has held over years. Is this the start of the new normal? Let us see what lies ahead.

I will be doing another analysis to try find more entry points and posting it shortly as I am looking for market to target atleast 10 450 and after that 10 720.

I hope that some has benefitted from this major swing and that i can accurately predict the next correction point which should be slightly above our previous buy Zone at 9600 - 9575 zone.

Im looking for one more respect of a trendline at the bottom meaning we have entered a new channel of trading which is seeing the slope decrease slight but still remaining bullish currently this is the new idea I will be working with.

If you did take the trade or do agree please feel free to leave a comment and let me know as I would like to see if anyone is benefiting from my analysis