NAS has again broke above another resistance with a massive bullish impulse on the daily timeframe, after a impulse we expect to see a nice correction, also on the daily we can see market has formed a nice W formation, after a W you can expect market to come down and complete the pattern at the neckline of the W it happens 90% of the time. At the moment the momentum is still strong and on lower timeframes everything is still bullish, if the market on lower timeframes will create new bearish structure and all of our rules are met, we will be looking for a valid entry to short.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.