Nasdaq (NDX) completed last Friday its first 4H Golden Cross formation in more than 7 months (since May 01). This is taking place while the index is inside a Channel Up, making a V-shaped recovery from the November 21 Low.
The last time all the above conditions were fulfilled was exactly during the May Golden Cross. With the 4H MA200 (orange trend-line) as its Support, the index eventually hit its previous All Time High (ATH).
As we've entered the Fed week, we can finally see this move to the ATH Resistance, so our short-term Target on Nasdaq remains 26200.
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The last time all the above conditions were fulfilled was exactly during the May Golden Cross. With the 4H MA200 (orange trend-line) as its Support, the index eventually hit its previous All Time High (ATH).
As we've entered the Fed week, we can finally see this move to the ATH Resistance, so our short-term Target on Nasdaq remains 26200.
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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
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.