Dear traders
This is my second analysis of the Nasdaq index, and I say it with all sincerity, the more I dive into the analysis, the more it is scaring me with such high volatility.
I have specified the buying and selling prices on the chart, and I want to list some notes that came to my mind while studying the Nasdaq, perhaps they will be useful:
- If you are used to trading without SL in other pairs, I do not advise you at all to do this with the Nasdaq.
- Although I set the buying prices, I personally will focus more next week on selling from the price of 15350 to 16000 and SL at the price of 16555. And in the event that the price specified for sale does not reach, it will not change anything, because I am originally reluctant to trade in the Nasdaq.
- I think that the Nasdaq lost the upward momentum after the large and continuous rise that began in January 2023, and it could not exceed the price of 15931. However, we must carefully monitor the daily chart at 14425, because it is possible that the current decline is retracement, and the trend will reverse upwards from 14425-14400, with the support of the moving average 50. Similarly, as it happened on October 1, 2021, its goal then will be to break the previous peak, which is 16771. But if the price breaks 14400 downward and continues below it, then its targets will be levels below 14000 to 13500.
During the month of September, the picture will become clearer, and I will continue, God willing, with continuous updating.
I wish good luck for all next week!
W = Weekly support/ resistance
VS = Very strong support / resistance
This is my second analysis of the Nasdaq index, and I say it with all sincerity, the more I dive into the analysis, the more it is scaring me with such high volatility.
I have specified the buying and selling prices on the chart, and I want to list some notes that came to my mind while studying the Nasdaq, perhaps they will be useful:
- If you are used to trading without SL in other pairs, I do not advise you at all to do this with the Nasdaq.
- Although I set the buying prices, I personally will focus more next week on selling from the price of 15350 to 16000 and SL at the price of 16555. And in the event that the price specified for sale does not reach, it will not change anything, because I am originally reluctant to trade in the Nasdaq.
- I think that the Nasdaq lost the upward momentum after the large and continuous rise that began in January 2023, and it could not exceed the price of 15931. However, we must carefully monitor the daily chart at 14425, because it is possible that the current decline is retracement, and the trend will reverse upwards from 14425-14400, with the support of the moving average 50. Similarly, as it happened on October 1, 2021, its goal then will be to break the previous peak, which is 16771. But if the price breaks 14400 downward and continues below it, then its targets will be levels below 14000 to 13500.
During the month of September, the picture will become clearer, and I will continue, God willing, with continuous updating.
I wish good luck for all next week!
W = Weekly support/ resistance
VS = Very strong support / resistance
Comment:
I miss to add that, I may need to hold my sell orders at prices 15350 - 16000 one to two weeks , so if anyone is following the same idea need to consider swap cost.
Comment:
TP 1 reached!
Comment:
Closed all my buy orders and 1st sell order just activated!