USTECH100 Nasdaq : The bigger picture disaster of tech :( 22.4
Updated
Simplicity is king.
1) Rising wedge 2019 - 2022 - Jan 2022 breakout down.
2) Nasdaq is falling from a crazy over-priced high, big potential downside.
3) Descending trend-line of lower highs since breakout confirm down-trend.
4) Current trading range of the down-trend is 14,600 - 12,800
5) Break below 12,800 - 11,900 to 10,700 will very likely follow.
6) A break above 14,600 with a weekly close will be the end of the down-trend technically.
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1) Rising wedge 2019 - 2022 - Jan 2022 breakout down.
2) Nasdaq is falling from a crazy over-priced high, big potential downside.
3) Descending trend-line of lower highs since breakout confirm down-trend.
4) Current trading range of the down-trend is 14,600 - 12,800
5) Break below 12,800 - 11,900 to 10,700 will very likely follow.
6) A break above 14,600 with a weekly close will be the end of the down-trend technically.
-----------------------------------------------------------------------------------
If you liked my idea, would be great if you could like and follow :D
My target is to benefit as many traders as I can with practical knowledge which would give you confidence.
Let me know if you have any questions or if there's anything more I can do to help!
Thank you <3
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Trade active
13,100 was reached at the lowest within the down-trend. Musk buying twitter news helped the market rebound within the down-trend.
13,900 and 14,600 are possible retest levels with new lows still targeted!
What do you guys think?
Trade closed: target reached
12,800 target reached! Currently bouncing up from, but could break lower any time.
14,600 is still a possibility though very unlikely.
Trade closed: target reached
11,800-900 support is tested! A daily close below would confirm potential downside to 10,700 horizontal support!
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