🕒 NASDAQ - 30-Minute Chart Analysis
Looking at the 30-minute chart, we can see an ascending triangle pattern forming on NASDAQ.
If resistance is broken to the upside, it would normally make sense to approach with a bullish bias. However, the presence of this pattern in this context feels somewhat off, so even if a breakout occurs, I plan to let it go without entering.
Currently, my plan is to enter a short position if the price breaks below the red box area, which represents the ascending trendline.
The target for this trade is the blue box zone.
If the bottom of the blue box is broken as well, I will approach today’s market with a bearish strategy only.
Looking at the 30-minute chart, we can see an ascending triangle pattern forming on NASDAQ.
If resistance is broken to the upside, it would normally make sense to approach with a bullish bias. However, the presence of this pattern in this context feels somewhat off, so even if a breakout occurs, I plan to let it go without entering.
Currently, my plan is to enter a short position if the price breaks below the red box area, which represents the ascending trendline.
The target for this trade is the blue box zone.
If the bottom of the blue box is broken as well, I will approach today’s market with a bearish strategy only.
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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.