Do not enter this trade until there is a proper rejection from the top of wedge! is still too early. If we see a proper rejection from the resistance we can expect a pullback to the bottom of wedge. Be extremely cautious with shorting indices at the moment since we haven't seen a confirmed reversal pattern yet.
And just to be clear even if we do see a rejection...
The question is not if it's going to drop that hard, the question is if it's gonna honor the fibs and provide a good entry.
When it hits the fan, don't say you weren't warned.
The white Fork describes the context and where price potentially can pullback to. As we see, price reached the Centerline two times. Now, the third time it failed!
The yellow steep Fork describes the current flow, which looks like it is to the upside. BUT: watch, price is outside the L-MLH.
Even worse, price tested the L-MLH a couple times now, but could not push...
Nasdaq has been in consolidation since start of the second week of this month. 7000 is the strong resistance and 6800 is strong support for this month. NDX is trying to break the 7000 and this rising wedge pattern is giving us the confirmation of bullishness. Break and sustain above 7000 will lead to 7200-7400 and to other hand break and suatin below 6800 will...
The index is printing recurring patterns on 1D. Symmetrical 4H Channel Up patterns, followed by same width Channel Downs (High ATR = 37.1964 on neutral RSI, STOCH, Highs/Lows), always supported by a 1D Higher Low line (RSI = 57.913, Highs/Lows = 32.000). 6640 is expected in about 1 week's time and then 7085 by mid June.
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Tengri Traders vision concerning NASDAQ.
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During the Bull Market in Intermediate 3, Nasdaq was my favorite because of its Wave Count, hence the reason for the successful view on the NASDAQ100 – Bullish Minor 5 - Bulls Come-Back article.
US Indices synchronized their individual Bearish legs once they reached the tops back on the 2nd of Jan.
Same day, right before the sell-off began, I posted the CBOE...
This bubble maybe less maybe more.
No different.
This time is not different.
Central banking bla bla bla this time no way collapse bla bla bla..
Bubble.
All Trade Parameters shown on the chart. Short setup on 1h Supply. Daily Reversal Pattern forming with a powerful engulfing candle! Looks like we reached the High of the Year.
Trump policies, profit realization requirement and some technical indicators base this strategy.
Also u can see triangle formation too.
Profit and stop loss levels are on the graph.
Good luck.
