This is what I'm observing on the Nasdaq using the daily time frame. The current area of interest coincides with a daily bearish sentiment, along with the Fibonacci retracement level at 62%. Let's see how this performs.
Note
14200 incomingNote
I was anticipating a rejection at the 70% Fibonacci level, but it made a small move upward, reaching as high as 79%. However, it now seems to be following its intended trajectory. Let's observe how it moves downward.Trade closed: target reached
I expected the NASDAQ to be rejected at 62%, but OTE 79%! That was a great reaction, and it is now reaching its target that 14200
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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.