I previously posted a different bias to what I am posting now as I changed my bias. The market seems to have taken the form of a familiar pattern which I think once broken, could lead to a massive jump.
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Why I think Nasdaq will potentially go to new highs.The drawings should be pretty clear... after breaking out of the channel, Nasdaq reversed strongly and now is back into the channel to the upside, which tells me that there are more buyers than sellers.
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Slowly going up... so far so goodNote
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Breaking all resistance bit by bit...Note
Fly away...Note
Remember when I mentioned that this kind of pattern usually leads to a big jump in the direction of the trend? Well, it is unfolding ...Note
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Still going...Note
First post on this was on the 8th of December when I identified this pattern with the target. A month and a few days later that target has been reached.Note
Nice uptrend...
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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.