NASDAQ 100 (US100) – Bullish Setup Developing
1. Falling Wedge Breakout:
Price has broken out of the falling wedge (purple trendlines), signaling a potential reversal to the upside.
2. Retesting Breakout Zone:
Current price action is retesting the breakout level near the 18,000 zone, indicating potential support forming.
3. Trendline Confluence:
The breakout aligns with the lower boundary of the broader ascending channel (blue), acting as dynamic support.
4. Strong Bullish Rejection at Lows:
Price showed strong buying interest near 17,700, forming a bullish rejection wick and bounce.
5. Clean Target Ahead:
Next key resistance zone lies around 18,540, where price may face selling pressure again – this matches previous structure and descending channel resistance.
6.Momentum Shift Noted:
Lower highs and lower lows structure has been invalidated, hinting at a possible trend shift.
Thanks for your Time..
1. Falling Wedge Breakout:
Price has broken out of the falling wedge (purple trendlines), signaling a potential reversal to the upside.
2. Retesting Breakout Zone:
Current price action is retesting the breakout level near the 18,000 zone, indicating potential support forming.
3. Trendline Confluence:
The breakout aligns with the lower boundary of the broader ascending channel (blue), acting as dynamic support.
4. Strong Bullish Rejection at Lows:
Price showed strong buying interest near 17,700, forming a bullish rejection wick and bounce.
5. Clean Target Ahead:
Next key resistance zone lies around 18,540, where price may face selling pressure again – this matches previous structure and descending channel resistance.
6.Momentum Shift Noted:
Lower highs and lower lows structure has been invalidated, hinting at a possible trend shift.
Thanks for your Time..
Trade closed: target reached
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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.