NASDAQ - Bearish outlook - Assignment Chart 3
Bias is bearish based on the below bearish Indications:
1. Down trend – LHs & LLs
2. Shooting star at 4hr resistance
3. Price at resistance (4hr), which could be potential LH
4. Descending parallel channel still intact at higher timeframe
5. Per seasonal review, January 2023 likely to be bearish (see attached)
PLAN A
1) Short at bearish candle confirmation at 11,110 – 11,025
Entry – say 11,000
SL – 11,230
TP1 – 10,770
2) Short if the support zone at 10762-10494 is broken
PLAN B
1) Long if the price breaks above 11184
2) Long if the price bounces from key support zone 10762
1. Down trend – LHs & LLs
2. Shooting star at 4hr resistance
3. Price at resistance (4hr), which could be potential LH
4. Descending parallel channel still intact at higher timeframe
5. Per seasonal review, January 2023 likely to be bearish (see attached)
PLAN A
1) Short at bearish candle confirmation at 11,110 – 11,025
Entry – say 11,000
SL – 11,230
TP1 – 10,770
2) Short if the support zone at 10762-10494 is broken
PLAN B
1) Long if the price breaks above 11184
2) Long if the price bounces from key support zone 10762
