Hi traders:
NASDAQ is looking great for potential bearish reversal opportunities.
We can see very clean price action currently with a ascending channel correctively move up to the top of the HTF parallel channel structure.
As we know the ascending channel structures are good bearish reversal price action structures/patterns, its good indication that both the HTF and LTF are aligning up for the possible reversal.
Watch for the price to have a sharp breakout, follow by LTF continuation correction to get in on the sell.
Alternatively since price hasn't breakout yet, correctively moving up is still possible, so be patient and wait for the setup to form and complete before entering,
Thank you
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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.