Nasdaq started the week with sharp movements
Updated
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For now, I can only explain my scenario to you through words. I hope you understand.
Nasdaq, like many other markets, often uses Mondays to gather funds to facilitate movement throughout the rest of the week. So, we witnessed a surge in response to last Friday's NFP news.
I had already mentioned that the market would go up, but I didn't know how far it could drop due to the NFP news. This sets up a scenario where the market ended up rising significantly on Friday, and today, Nasdaq is obligated to collect the money scattered everywhere.
Nasdaq always moves inversely to the dollar index. That rise in the DXY is the drop we're looking for in Nasdaq. Once both pairs have collected the loose money, they will then begin their move in the most probable direction. In this case, for Nasdaq, it would be an ascent towards 15,034.
For now, I can only explain my scenario to you through words. I hope you understand.
Nasdaq, like many other markets, often uses Mondays to gather funds to facilitate movement throughout the rest of the week. So, we witnessed a surge in response to last Friday's NFP news.
I had already mentioned that the market would go up, but I didn't know how far it could drop due to the NFP news. This sets up a scenario where the market ended up rising significantly on Friday, and today, Nasdaq is obligated to collect the money scattered everywhere.
Nasdaq always moves inversely to the dollar index. That rise in the DXY is the drop we're looking for in Nasdaq. Once both pairs have collected the loose money, they will then begin their move in the most probable direction. In this case, for Nasdaq, it would be an ascent towards 15,034.
Trade closed: target reached
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