Hey guys, so this is a new week and here is a glimpse at what to expect from Nasdaq this week. Looking at the 45 we can see a rising wedge at the supply area of the trend-line that got three rejections. First was a surge that got rejected and failed, second was a pin-bar and third been a tweezer top with it’s usual reversals. So if tested the fourth time this supply area would definitely get broken.
The 4hr and daily all tell us that we clearly are still in an uptrend and regardless this is just a corrective phase. If the bears exceed 11600 (which is the previous support level) we can think “bears” until then the bulls have a high chance at a comeback this week.
The 4hr and daily all tell us that we clearly are still in an uptrend and regardless this is just a corrective phase. If the bears exceed 11600 (which is the previous support level) we can think “bears” until then the bulls have a high chance at a comeback this week.
First trade.