🚀📈 NASDAQ: Bulls Taking Charge! Get Ready for a Rocket Ride!
Updated
The bullish setup on NASDAQ in the 1-hour timeframe is generating excitement among traders.After successfully riding the previous bullish wave from 14250 to 14650, the market is now presenting a highly compelling opportunity to add to long positions to enjoy the rally. Here's why:
Price has convincingly broken through a key resistance level that had been fiercely contested in recent days. This level, which had previously acted as a formidable resistance, has now transformed into a strong support zone. This shift signifies a clear victory for the buyers, indicating their growing dominance and the waning strength of the sellers. As a result, we are witnessing the emergence of a powerful short squeeze, where sellers rush to cover their short positions, propelling the market higher.
But the bullish case is not just limited to technical factors. On the fundamental front, recent news of a successful debt ceiling agreement has injected fresh optimism into the market. This positive development has rekindled enthusiasm among investors, encouraging them to allocate capital back into equities. With renewed capital inflows expected, the stage is set for further upward momentum in NASDAQ.
As for potential profit targets, it is essential to approach the trade with a prudent strategy. The first take profit level can be set at 14800, as it aligns with a significant resistance area that may prompt some profit-taking by short-term traders. The second take profit level can be positioned at 14950, aiming for a continuation of the upward momentum. However, it is crucial to monitor price action and adapt your strategy as the market evolves.
So, fasten your seatbelts and get ready for an exhilarating ride as the bulls take charge on NASDAQ!
Don't forget to press the like button if you think this insight was helpful 🐂🚀💰
Price has convincingly broken through a key resistance level that had been fiercely contested in recent days. This level, which had previously acted as a formidable resistance, has now transformed into a strong support zone. This shift signifies a clear victory for the buyers, indicating their growing dominance and the waning strength of the sellers. As a result, we are witnessing the emergence of a powerful short squeeze, where sellers rush to cover their short positions, propelling the market higher.
But the bullish case is not just limited to technical factors. On the fundamental front, recent news of a successful debt ceiling agreement has injected fresh optimism into the market. This positive development has rekindled enthusiasm among investors, encouraging them to allocate capital back into equities. With renewed capital inflows expected, the stage is set for further upward momentum in NASDAQ.
As for potential profit targets, it is essential to approach the trade with a prudent strategy. The first take profit level can be set at 14800, as it aligns with a significant resistance area that may prompt some profit-taking by short-term traders. The second take profit level can be positioned at 14950, aiming for a continuation of the upward momentum. However, it is crucial to monitor price action and adapt your strategy as the market evolves.
So, fasten your seatbelts and get ready for an exhilarating ride as the bulls take charge on NASDAQ!
Don't forget to press the like button if you think this insight was helpful 🐂🚀💰
Trade active
stop loss below the moving averages. below 14590Note
TP1 reached, take halfNote
you're gonna lose loved ones, you gonna get fired. your house gonna get foreclosed on. somebody's gonna give you a notice, the banks gonna loose your money, somebody's gonna steal something for you, your car gonna break down.all that's gonna happen.
if you're soft, you aint gonna win. I'm sorry.
Because the devil is busy. The devil gonna through hardship your way. He testing you too.
This ain't gonna be easy. Life is not getting ready to be easy for you.
You can stop hoping for that.
You gotta get doggedly tough. period
Trade closed: target reached
take half of profit remaining and let the rest float(dont forget to trail stop below each retracement). ride the momentumTrade active
can buy again
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