bazeet

NDX - Downward channel setup

Short
TVC:NDX   NASDAQ 100 Index
Hi guys, we've had a great run upwards since the double bottom at approximately ~10700 levels.
I've drawn some new lines that could show us the way forward. However, this idea is going downwards.

If the fiscal stimulus goes through congress and gets accepted, i believe this channel will be invalid.
However, if it fails the coming week, we will be ready for a new selloff.

Good luck with the trading the coming weeks!

Comments

This will show up when the supply increases again, also we can get the RSI lower, thanks for sharing, great idea.
+1 Reply
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