NASDAQ (NAS100) MARKET ANALYSIS

 Hey traders, I hope you're all doing well this fine Thursday. Into the markets today I'm looking at NASDAQ where price rallied to a key H1 & H4 supply zone at 11672.94 & 11482.55 which is the origin of the previous drop to the major daily demand at 10694.34 & 10497.42. Price has filled the H1 & H4 range from supply to demand and back to supply. Price rallied into supply, formed a rejection wick on H1 & H4 and candle close inside supply followed by a bearish push away from supply to 11405.40. Took sell entries during NY session yesterday at 11588.10 with SL at 11719.56. Setup taken is a rally base drop, a reversal setup and my target is at the previous H4 low at 10900.

Price spiked back deep into supply then formed a strong rejection wick on H1 & H4 followed by candle close inside supply showing my setup is still valid. Price gained momentum today during London session with a bearish push to 11354.10, a 240 pips drop and still showing more bearish potential as price still hasn't fully dropped as expected. Price dropped 250 pips to 11372.27 then rallied back to retest supply at 11482.55 before a continuation of the drop. Price gained momentum during London session and more of it coming into the NY session pushing price 370 points to the H1 low at 11245.80 and the market still shows more bearish potential. I anticipate a continuation of the drop to the previous H4 low at 10900.00 which is a key level and also price will have filled the H1 & H4 range before either rallying or dropping lower.

Price dropped with strong momentum to the previous H1 & H4 low at 10900.00 which was my target then left a long strong rejection wick on H1 & H4 followed by a slight H1 consolidation then a strong rally. Price dropped 720 points to my target at 10900.00 hence filling the minor H1 & H4 range from the key H1 & H4 supply level to the H1 & H4 low and back to supply as price failed to break the low and reversed rallying back to supply and closing the week inside supply at 11577.10.