NASDAQ (NAS100) MARKET ANALYSIS

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 Good afternoon traders I hope your weekend was good and you're all ready to tackle the new week in the markets. Into the charts today I'm looking at NASDAQ where price rallied back to the major daily chart supply level at 12053.99 & 11893.84 from the H1 & H4 demand level at 11643.74 & 11526.52 and closed last week inside supply. Market opened this week inside supply, formed a slight push to 12000.00 then left a rejection wick followed by a slight push down. Price filled the minor H1 & H4 range from the major daily supply level to the H1 & H4 demand level and back to the major daily supply level. 
Took sell entries during London session at 11957.00 with SL at 12065.20. Setup taken is a rally base drop, a reversal setup and my 1st target is at the next H1 & H4 demand level at 11643.74 & 11516.52 before price either continues dropping or reverses and shifts bias.






Price gained momentum during NY session that saw the market form lower lows and dropping 200 points by a constant push away from supply to the 1st H1 low at 11760.40 confirming a shift in market structure to bearish. Price is still showing more bearish potential as I anticipate price to take out the H1 low liquidity and drop lower to the next H1 & H4 demand level at 11643.74 & 11516.52 which is my target zone.












Price broke the H1 low at 11760.40 forming a lower low, retraced to retest the broken H1 low where price formed a minor consolidation as it accumulated more orders to push price further down. Price gained more bearish momentum during NY session and dropped in a large H1 bearish candle leaving behind a H1 BOS at the retest of the broken H1 low. Price dropped 450 points heavily into the H1 & H4 demand level at 11643.74 & 11516.52 which was the origin of the previous rally to the major daily supply and also my target for the shorts. Price has filled the H1 & H4 range from the H1 & H4 demand level to the major daily supply and back to the H1 & H4 demand level and formed the daily close inside demand.


















 

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