The index is above the EMA200 and EMA50 in the 4H timeframe and is trading in its ascending channel
If the index rises towards the supply zone, which is also at the intersection with the weekly pivot and the midline of the channel, you can look for sell positions in the Nasdaq index
A valid breakout of the downward drawn Fibonacci retracement will provide a downward path for the indicator to the specified support area and then the bottom of the ascending channel
If the index rises towards the supply zone, which is also at the intersection with the weekly pivot and the midline of the channel, you can look for sell positions in the Nasdaq index
A valid breakout of the downward drawn Fibonacci retracement will provide a downward path for the indicator to the specified support area and then the bottom of the ascending channel
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