If the channel will be confirmed, it's possible to see NASDAQ in 9100 Area.
This is a very long term view, very easy to change with such this market instability
As We Can See, Price Has Been restricted to this long parallel channel (i.e Trendlines) and by the use of my purple zones we can See that Resistance has been respected multiple times, For a Clear indication of a bearish trend the trendline would have be broken, I'm looking to get into a short utilizing a powerful R:R Ratio, however there will be a gap once Market Opens.
Bearish view - Supply zone has been touched and retested.
Waiting for the NY open to determine the view.
But we entered aggressively because of our supply and demand strategy.
Fundamental news later today for stimulus may push up - if this is the case we trade the upside or investors ignore the sentiment and the downside will be confirmed.
Congrats on our good sell to 8500 parameters as said and even a breakouts further downwards to 8300s.. However now listen to the idea now, We wait for a breakouts from 8500 parameters for a buy up 8700(I'll update in comment box), If that breaks we go even further to 8850 otherwise a sell back to 8500, Please take note. wait for Reversal (candle/patterns) NB; From...
With the higher TF analysis in the back of our minds now, this is what I will be looking for on the 15M TF while looking for possible entries on the 5M and 1M TF.
As you can see we formed a small consolidation on Friday and broken out to the downside. This allows us to what for the retest on these smaller TFs to find a decent day trade on this pair. TP1 and TP2...
We had an impulse move downward, followed by a deep correction. Leading the common folk to think that the "recession" or calamity is over, but technicals and my belief is that we are going to see much lower prices on Nasdaq.
This recession that is on the rise is about to hit hard and sting the market real hard. However be aware that price can go up and create a...
