Nasdaq looks like it's trying to make a double bottom. The sellers we unable to push the price any lower than 10,650 and buyers stepped in and bought the dip, likely signaling the end of a short term down trend.
There was a retest today at the 11,168 levels of the neckline of the double bottom which seems to have held. This was a great entry. If the double bottom pattern plays out the target is ~11,700.
There was a retest today at the 11,168 levels of the neckline of the double bottom which seems to have held. This was a great entry. If the double bottom pattern plays out the target is ~11,700.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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.