Nasdaq (NDX) recently broke below the Higher Lows trend-line of 2023, the trend-line from the start of the year that has been supporting the strong recovery. This created the conditions for further decline, especially since the 4H MA50 keeps the price action below it, but so far Support 1 (14430) is holding.
The above levels are those we will use as break-outs. A candle close below Support 1 will be a sell signal, targeting the 1D MA200 (orange trend-line) at 13900. Since however the 1D MACD is close to forming a Bullish Cross, the bullish momentum attract probabilities and if a candle closes above the 1D MA50, we will instead buy, targeting 15650 (Resistance).
The pattern since mid August is quite similar to the Arc formation of November - December 2022. After the 1D MA50 broke, it targeted the previous Resistance and even hit the 1.382 Fibonacci extension before the next pull-back.
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The above levels are those we will use as break-outs. A candle close below Support 1 will be a sell signal, targeting the 1D MA200 (orange trend-line) at 13900. Since however the 1D MACD is close to forming a Bullish Cross, the bullish momentum attract probabilities and if a candle closes above the 1D MA50, we will instead buy, targeting 15650 (Resistance).
The pattern since mid August is quite similar to the Arc formation of November - December 2022. After the 1D MA50 broke, it targeted the previous Resistance and even hit the 1.382 Fibonacci extension before the next pull-back.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。