NQ - Dotcom Bubble's Channel Returns 9/2/2020
NQ at the weekly view.
I refined my historical lines on the NQ. After find the angle of the Dotcom Bubble's old channel, I extended it to today.
I nearly spit my coffee when I saw how well these lines interacted with the price action at the daily view.
The NQ entered back into its old Dotcom Bubble trend lines. It's more like a fork or a channel. After looking at the price action, each line was where the NQ was struggling to get further up and then launched from that trend line.
If these lines hold up, then this 2020 NQ bubble is far from over. We might get a pullback, but I personally do not think we are anywhere near an actual top. So, my bias is at the long side after a bigger dip.
I refined my historical lines on the NQ. After find the angle of the Dotcom Bubble's old channel, I extended it to today.
I nearly spit my coffee when I saw how well these lines interacted with the price action at the daily view.
The NQ entered back into its old Dotcom Bubble trend lines. It's more like a fork or a channel. After looking at the price action, each line was where the NQ was struggling to get further up and then launched from that trend line.
If these lines hold up, then this 2020 NQ bubble is far from over. We might get a pullback, but I personally do not think we are anywhere near an actual top. So, my bias is at the long side after a bigger dip.
Comment:
Even after the correction, they work!