NASDAQ is on its way to retest the market high the third time this year. 103.0 - 106.0 is a decent area of resistance and bets are high that we will see a retracement from it.
Target levels will be 100 and 96
*also note that the previous daily candle was quite strong for this reason, it is preferable to wait for a confirmation before taking action.
no matter what is your approach is, stop should be strictly set above the underlined resistance area .
Absolutely! it is going to retest and I have my buy stop ready, another confirmation is the present low ATR level on the 1 HR time frame and also on the 15 mins time frame. it is also wicking my trendline which shows the low bullish momentum. Nice idea!