NASDAQ: Approaching Target 1. Pullback and buy for the 2nd.

Nasdaq maintains the four month Channel Up and despite the technically overbought 1D timeframe (RSI = 72.574, MACD = 282.680, ADX = 39.484) it shows no signs of pulling back. We will make the most out of this very aggressive trend. Our target from the previous analysis remains near the R2 (TP1 = 16,000) and after a pullback as on May 24th, we will buy again and target the R3 (TP2 = 16,690).

We will stop buying the pullbacks after both of the following conditions are met: the price crosses under the 4H MA50 and the 1D RSI under its HL trendline.

Prior idea:


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