NASDAQ INDEX LONG IDEA (SHORT - MID TERM)
Idea: Long around 10600 - 10800 range (RR Ratio 3+)
Reason: Rebounded off key support 10760, 1h 2h 4h daily candle shows potential signs of retracement
Additional indicators used to support the case: Broken descending channel and retest trendline, Awesome Oscillator in 1h 2h 4h signals an upcoming correction
TP: Based on key resistance/support level
SL: Below next resistance/support level 10500
Key targets (Short-mid term): 10950, 11050, 11170, 11270, 11400, 11570, 11760, 11880, 12010, 12110, 12330, 12450, 12550
Reason: Rebounded off key support 10760, 1h 2h 4h daily candle shows potential signs of retracement
Additional indicators used to support the case: Broken descending channel and retest trendline, Awesome Oscillator in 1h 2h 4h signals an upcoming correction
TP: Based on key resistance/support level
SL: Below next resistance/support level 10500
Key targets (Short-mid term): 10950, 11050, 11170, 11270, 11400, 11570, 11760, 11880, 12010, 12110, 12330, 12450, 12550
Note
Update: Starting long waves at 10500 range with with safe SLNote
Note: The gap down to 10400+ was a sign of SL hunting, thats the reason why I said to put SL at a safe zone below 10500!!!!Note
Update: Hit target 11050Note
Update: Hit over target 11270, 11400 is in rangeNote
Update: Hit over target 11570Note
Update: Hit target 11760Trade closed: target reached
Related publications
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.
Related publications
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.