NDX Is reaching to strong resistance zone! we watch carefully!
Updated
NDX is going to face a strong resistance zone soon!
NDX is currently completing final wave (5) of a 5 segment up going wave cycle. This complete cycle may end at proposed resistance zone. Resistance zone is obtained by two different type of typical Fibonacci levels of wave 5 target.
It is worth to note mentioned complete cycle is itself wave 3 of a larger degree wave which means next possible sell off is just a correction not a fall. Therefore I think there is no major risk for stock holders.
Next decline will bring back NDX to 14386 or 13885 corresponding to 0.5 and 0.618 Retracements respectively. Then we will have a new move up and a new ATH.
It is wise to have a general view of the market when we want to open a position.
Good luck every one.
NDX is currently completing final wave (5) of a 5 segment up going wave cycle. This complete cycle may end at proposed resistance zone. Resistance zone is obtained by two different type of typical Fibonacci levels of wave 5 target.
It is worth to note mentioned complete cycle is itself wave 3 of a larger degree wave which means next possible sell off is just a correction not a fall. Therefore I think there is no major risk for stock holders.
Next decline will bring back NDX to 14386 or 13885 corresponding to 0.5 and 0.618 Retracements respectively. Then we will have a new move up and a new ATH.
It is wise to have a general view of the market when we want to open a position.
Good luck every one.
Note
NDX strongly defeated first resistance. Market is Generally going upNote
Strong rejection from second resistance zone! I think it may go a little bit higher but correction is on the way as predicted several days ago my friends.Note
it is above the second resistance now ! in the same time it broke the top of the parallel channel ! will bull market continue? are we going to enjoy more and more from our open long positions?Note
Strong rejection ! We should be prepared for the possible up coming correction in the market.Note
Whatever the reason is, New pandemic fear or FED decisions, We expected this correction several days ago !Note
It is very important to be prepared in advance as we were my friends !Now we are enjoying our reverse positions.
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