We cannot rule out the possibility of a bounce or lower high being set on the NDX, so here are the targets that I would be looking @:
- price action holding well at $12K support + liquidity zone
- 1st target is @ the BF support line $12.3K
- 2nd is gap fill @ $12.6K
- 3rd is the downward slopping trendline @ $12.9K
- 4th is gap-fill @ $13.3K
- 5th is another gap @ $13.5K
- final target (assuming we are setting a lower high) would be the 200SMA which would have trended lower to about $13.6K by the time we'd test it
- the higher high scenario would give us a re-test of the BF resistance channel @ $14Kish
Regardless of whether we make it back up or not, my long-term targets are that the BF ends up playing out to the downside. This is my opinion, you are welcome to your own
- price action holding well at $12K support + liquidity zone
- 1st target is @ the BF support line $12.3K
- 2nd is gap fill @ $12.6K
- 3rd is the downward slopping trendline @ $12.9K
- 4th is gap-fill @ $13.3K
- 5th is another gap @ $13.5K
- final target (assuming we are setting a lower high) would be the 200SMA which would have trended lower to about $13.6K by the time we'd test it
- the higher high scenario would give us a re-test of the BF resistance channel @ $14Kish
Regardless of whether we make it back up or not, my long-term targets are that the BF ends up playing out to the downside. This is my opinion, you are welcome to your own