We have an upside down flag/triangle(whatever you wanna call it) now the price broke out of the trendline, indicating that Nas is still going to go down, I see a sell when the Nasdaq market opens @ 15:30(South Africa time) enter it how I indicated here... Good luck
There are two scenarios here, choose wisely, my prediction is that it's going up, since it's already formed a HnS patters, and the fact that it broke that horizontal white resistance line 2days ago, but again, we wait for the candlestick to close above the zone it's on now. We will execute the coming week.
We will wait for the Daily candlestick to close above the blue/ support... If it does, we're heading up... Might consolidate for the day as the bankers will be deciding on which direction to take... Now for risky traders... We can buy it as we can clearly see that it rejected from going down, and it's forming a HnS... All in all, I see a buy here. Your thoughts?
We had a clear breakout of that Support (Blue zone), which has now turned into a resistance zone now.. it was collecting some stop losses today, so buy it now, the downward momentum is over. It's safe to buy. Go long.
Always use proper risk management 👌