adriel.arrasmith
Short

NASDAQ Completed Large Bearish Bat Pattern and Diverging

INDEX:NASX   Nasdaq Composite
229 4 2
NASDAQ Completed Large Bearish Bat Pattern and Diverging. Correction time...

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I will likely be out by then, my targets are around 4,000 for T1, I would expect a bounce there then and another rally (to possibly build another short) and then down to 3425ish (Cant rememeber my exact targets - have a lot of positions on right now... but yes $2900 is definitely possible seeing it is a macro pattern, my ideal short is actually at the 88.6% retracement a little higher which is why I will be taking profit around 4000 and looking for a bounce, if it get above the high and forms a three drives or something similar at 88.6 that is the trade where my targets will be far more ambitious... I might not even have second target and let it run
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Dionv.....I think $2900 is obviously a very possible minimum target
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expanding wedge/ t5 pattern + divergence this is clearer on the quarterly chart
+1 Reply
Amen brother! I just shorted for these exact reasons today... (and the monthly bearish pin bar)
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