Hello traders:
Since last wee we have been seeing bearish development on the lower time frames across the indices market.
Here on NASDAQ, we can see the HTF ascending channel was completed, and strong bearish impulse phase down.
After hitting a previous lows, price begin to consolidate into a possible continuation correction.
With a few swing highs and lows, double tops, price did reverse down on the lower time frames.
Since there hasn't been a significant continuation correction, that's what we can wait for to confirm another move down to the previous low.
Be on the lookout for bearish price action to form correction and look for the sell down.
Thank you
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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.