NASDAQ Trading Setup

#NASDAQ #1hr
- Here is NASDAQ 1hr. It broke above the ascending triangle and is showing bull run.
- We highly need to pay attention to green, blue and red upward trendline.
- The green trendline has already been broken above and thus if it goes through some correction, we can expect some retest support where green and blue trendline overlap. (right now it’s around 9620)
- The major sideway volume that needs to be considered sits around 9712~9778. Based on this volumes and Fibonacci expansion, we can expect some resistance area at 9670~9700 and 9730~9760.
- When correction phase emerge, a good area to enter long position is 9585~9608.
- A lot of indicators are signaling overbought so entering long at this price is very risky and not recommended.
- Personally I would enter short at the resistance areas I mentioned, or wait for some correction and enter long at the support area.
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