botje11

Nasdaq high is set? Part 3

TVC:NDX   NASDAQ 100 Index
Nasdaq has just been unstoppable lately, as i described in my sp500' analysis. That wedge from the previous analysis, was text book, even better than text book. This shows that how great TA can be sometimes, it can also be completely meaningless. It's part of the game, something we need to accept. All of this is just about exhausting bears until they give up. It will drop when bears give up, because without those bears shorting, there is simply no fuel left to push it higher. So normally we should see a sharp decline coming days. If we see a slow drop like the blue line, i would be careful with short positions. If we do see a good drop tomorrow, than we could see some real follow through for the first time since Dec.


Previous analysis:

Comment: So far so good, compared to past month, each bounce up gets sold, so tables might have turned this time. However, the 3800/3850 zone (if we get there) would be a level to take some profits, i don;t think we will see a big dump yet.

Comment: Haha Bitcoin prices, its 6800/6850 :)
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These trades are way better than trying to predict the crypto market atm.
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@AmritB, Yeah, sometimes they are indeed, but not always. These markets can be a pain in the ass as well. Best thing is, simply trade that asset that has a perfect pattern. Only looking at crypto, decreases your odd extremely
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It always strikes me on how few people veiw these post compaired to BTC. I would think a lot of the people loosing their shirts or profiting a little in crypto would profit a lot with the same technical abilities in a regulated market. Regardless thanks for what you do
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Jour Earthboundmisfit
@Earthboundmisfit, on this markets you can put lot more money :)
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@Jour, That as well, its all the same. Doing no leverage on an asset that moves 10% a day or doing 10x on something that moves 1% a day, IMO, its all the same
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botje11 Earthboundmisfit
@Earthboundmisfit, Thank you :) I agree, i am also always surprised to see those low view numbers. Most people think there is no money to be made compared to crypto, but that is far from true.
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