Short term trade idea:
Pattern wise within Nasdaq - Double bottom, measuring it comes to 38.2 Retracement of Fibs which is matches nicely key retracement area.
Above 11270 Area bullish with the resistance areas of: 11480 - 11560 - Target area for double bottom = 11815 - 12000 area.
Below 11085 Area Bears could come in control with key support areas of: 10930 - 10711
Medium term: I am bearish US Indices, Precious Metals, EUR, AUD, NZD - This would be a counter trend move, please use appropriate risk management.
Target for EUR - Low ends of 1.16 to 1.15 area to position for longer term EUR target of 1.22/1.25
All the best,
Trade Journal
Remember: Just a trade idea, not a recommendation.
Pattern wise within Nasdaq - Double bottom, measuring it comes to 38.2 Retracement of Fibs which is matches nicely key retracement area.
Above 11270 Area bullish with the resistance areas of: 11480 - 11560 - Target area for double bottom = 11815 - 12000 area.
Below 11085 Area Bears could come in control with key support areas of: 10930 - 10711
Medium term: I am bearish US Indices, Precious Metals, EUR, AUD, NZD - This would be a counter trend move, please use appropriate risk management.
Target for EUR - Low ends of 1.16 to 1.15 area to position for longer term EUR target of 1.22/1.25
All the best,
Trade Journal
Remember: Just a trade idea, not a recommendation.
Note
11600 - key area if we retrace and don't go over that area bears could come in control. However, if we go over I expect more BULLISH momentum. Remember: Just a trade idea, not a recommendation.
Trade closed: target reached
On Friday 9th October.
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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.
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.