Following on from our last post, Nasdaq broke down and started its collapse. We are now seeing a retracement but it's very likely that we'll see another bearish wave.
We are approaching the 618 fibonacci and expecting a rejection here. Invalidation level for this bearish setup is the structure level indicated.
Trade idea:
- Watch for bearish rejection around the 618 fibonacci level
- enter with stops above rejection
- Targets: 10700 (900pips), 9000 (2500pips) Taper positions off thereafter
Goodluck and as always, trade safe!
See our last Nasdaq analysis below
We are approaching the 618 fibonacci and expecting a rejection here. Invalidation level for this bearish setup is the structure level indicated.
Trade idea:
- Watch for bearish rejection around the 618 fibonacci level
- enter with stops above rejection
- Targets: 10700 (900pips), 9000 (2500pips) Taper positions off thereafter
Goodluck and as always, trade safe!
See our last Nasdaq analysis below
Note
US30 Leading. Ending diagonal has already broke down. Expecting something similar for NASDAQ
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Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
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.