NASDAQ - 4H - Analysis
Updated
Timeframe: 4H
Support and Resistance majorly used to figure out the direction.
Arrows are to show breach of Support, bounce back from support and retest.
Arrow heads are to show the direction.
You can plan trades accordingly by looking at the reasons at those levels Support and Retest.
Support and Resistance majorly used to figure out the direction.
Arrows are to show breach of Support, bounce back from support and retest.
Arrow heads are to show the direction.
You can plan trades accordingly by looking at the reasons at those levels Support and Retest.
Note
support has been broken down, now it has to be checked for fakeout or breakout.If retested successfully, then it will be moving towards 2nd support.
Fakeout -> look for Long upon valid reason towards resistance.
Breakout -> look for Short upon valid reason after retest towards support.
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