Nasdaq has had a strong rebound today, exactly on the HL zone of the January 6th Low. The 1D time-frame remains bullish (RSI = 60.492, MACD = 260.010, ADX = 29.305) and as long as the 4H MA100 holds every dip on the HL Zone is a buy opportunity.
However the Channel Down since the top is more than obvious and in addition, this is the first test of the 4H MA50 as Resistance in 3 weeks. Ahead of the U.S. CPI report tomorrow, we will only trade short term on Nasdaq.
Above the Channel Down we are buying (TP = 12,890), within the Channel Down we are scalping and below the 4H MA100 we are selling (TP = 11,850) to Support 1 and the 4H MA200.
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However the Channel Down since the top is more than obvious and in addition, this is the first test of the 4H MA50 as Resistance in 3 weeks. Ahead of the U.S. CPI report tomorrow, we will only trade short term on Nasdaq.
Above the Channel Down we are buying (TP = 12,890), within the Channel Down we are scalping and below the 4H MA100 we are selling (TP = 11,850) to Support 1 and the 4H MA200.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial