Nasdaq (NDX) has been trading within a short-term Channel Up on the 1H time-frame, reaching today its top (Higher Highs trend-line). On its previous +2.80% Bullish Leg, it pull-back back to the 0.382 Fibonacci retracement level, a Bearish Leg that touched the 1H MA50 (blue trend-line) and rebounded.
With the 1H RSI overbought, it is highly likely to start its second Bearish Leg, targeting the 1H MA50 again, this time potentially around 29600.
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With the 1H RSI overbought, it is highly likely to start its second Bearish Leg, targeting the 1H MA50 again, this time potentially around 29600.
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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
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.