Firstly, this is an trade idea and any trades taking should be considered risky as any analysis can still be wrong unless completely proven right.
I Have found a pattern within the market of Nasdaq that has played out perfectly within the last couple of week which a lot of people has been calling doomsday dumps, however to me it seems to be the market movers cycle falling into a two week cycle with about 14 days more or less rall and 2 days correction(Bear trap). This also follows a trendline which was respected on h4 and daily once again not setting a low on Friday 12 June.
My strategy involve the trendline, fibbonaci and Range boxes. Every correction provides a range box so did this one which you can find and I have left my previous last used range box of 3 from the correction before in place to show the power of the combination. Remember before we continue that a trendline simply serves as a guide and can be crossed which this one was but was not broken due to close above.
The pullback on Thursday and Friday I predicted and it played out perfectly to the fib line which in previous cases has lead to buy zone and up from there. If you bought on the touch of the buy zone on Friday you would be running risk free trades now till at least 10 450 TP 2.
This is a major swing trade and not an intraday trade previous one was 1 month long and there will be more opportunities coming to provide good long entries for it following the market movers cycle.
Next buy opportunity I will post when we start looking at a range box break or new market mover cycle has been confirmed.
I Have found a pattern within the market of Nasdaq that has played out perfectly within the last couple of week which a lot of people has been calling doomsday dumps, however to me it seems to be the market movers cycle falling into a two week cycle with about 14 days more or less rall and 2 days correction(Bear trap). This also follows a trendline which was respected on h4 and daily once again not setting a low on Friday 12 June.
My strategy involve the trendline, fibbonaci and Range boxes. Every correction provides a range box so did this one which you can find and I have left my previous last used range box of 3 from the correction before in place to show the power of the combination. Remember before we continue that a trendline simply serves as a guide and can be crossed which this one was but was not broken due to close above.
The pullback on Thursday and Friday I predicted and it played out perfectly to the fib line which in previous cases has lead to buy zone and up from there. If you bought on the touch of the buy zone on Friday you would be running risk free trades now till at least 10 450 TP 2.
This is a major swing trade and not an intraday trade previous one was 1 month long and there will be more opportunities coming to provide good long entries for it following the market movers cycle.
Next buy opportunity I will post when we start looking at a range box break or new market mover cycle has been confirmed.
