🟧 [Friday Close Recap - 5/17]
At the close of Friday's session, the daily and weekly candle closed around 21500.
However, in the final hour after market close, Nasdaq broke below the orange trendline.
Then, at the start of Monday’s session, a sharp gap down occurred.
The gap was briefly filled before Nasdaq retested the broken trendline and continued to fall.
🔗
🕒 [Hourly Analysis]
Nasdaq hasn't confirmed a downtrend yet.
The key is whether 21187, which has held since May 13th, will break.
If it fails, price may fall below the value area it’s held for a week.
Downside targets if 21187 breaks: 21000, 20765.
🔗
🟩 [Buy Strategy - Still Valid?]
Bullish scenario isn’t dead—this may be a temporary pullback.
Key entry signal: Break above the 15-min 20 EMA.
Target zones vary by strength:
Conservative TP: 30-min 20 EMA
Aggressive TP: 21415, possibly even 21500 if today’s high is broken
🔗
📌 Conclusion
Monday started with a gap down, but support is still holding.
Break below 21187 = potential trend reversal + end of box-range movement.
Buy trades should be cautious & short-term until confirmation of strength.
At the close of Friday's session, the daily and weekly candle closed around 21500.
However, in the final hour after market close, Nasdaq broke below the orange trendline.
Then, at the start of Monday’s session, a sharp gap down occurred.
The gap was briefly filled before Nasdaq retested the broken trendline and continued to fall.
🔗
🕒 [Hourly Analysis]
Nasdaq hasn't confirmed a downtrend yet.
The key is whether 21187, which has held since May 13th, will break.
If it fails, price may fall below the value area it’s held for a week.
Downside targets if 21187 breaks: 21000, 20765.
🔗
🟩 [Buy Strategy - Still Valid?]
Bullish scenario isn’t dead—this may be a temporary pullback.
Key entry signal: Break above the 15-min 20 EMA.
Target zones vary by strength:
Conservative TP: 30-min 20 EMA
Aggressive TP: 21415, possibly even 21500 if today’s high is broken
🔗
📌 Conclusion
Monday started with a gap down, but support is still holding.
Break below 21187 = potential trend reversal + end of box-range movement.
Buy trades should be cautious & short-term until confirmation of strength.
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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.
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.