Hello everyone. Nasdaq has been down by more than 3% yesterday. It recovered some losses in the over-night session before heading down again.
I just observed a bullish setup on the 60m with reasons below: 1. The downtrend line has been violated. 2. On the daily, price has reached the bottom of the first range. Buyer may join in at this level or there will be further down the road.
Basing on my Dual-MA trading system, it is still downtrend. So the I just put red arrow around the target level of 15300 for your reference. You may close partial position if the index moves as I expected.
Please trade safe.
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Damn, it moved fast to the upside. The moment I wrote the stuff, it was still around my zone.
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It seems the bullish setup will be terminated. Price faced huge selling pressure and refused to test the MA.