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helpfulPear98930

[NASDAQ] Cup & Handle - Long setup

Long
US Nas 100 (OANDA:NAS100USD)  
helpfulPear98930 Updated   
OANDA:NAS100USD   US Nas 100
Chart Patterns NASDAQ 100 CFD longterm longposition cupandhandlepattern
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chartpattern nas100 longterm longposition cupandhandlepattern
NASDAQ is forming a nice Cup & Handle pattern on the daily aiming to find support around the 200d EMA and enough buyers to push the price to ATH.

A similar pattern was seen in the 2009 bottoming process, successfully defending the 200d EMA and resuming the secular bull market.
snapshot

The same goes for the 2008 failure to hold the 200d EMA giving us a clear invalidation point for our setup
snapshot

If NASDAQ looses the 200d EMA most likely the bear market will resume
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