Hi Traders,
What an eventful day in the markets. I am currently looking at NASDAQ, Very interesting price action happened upon the NYSE open with a beautiful liquidity grab to the upside of 12800.0, This signals that we have a lot of selling pressure to the downside.
Price was able to break a two-day range with price now trading below 12600.0, If this price point holds as newfound resistance, I do believe the Nasdaq has a higher probability of continuing the move to the downside.
My 1st target is at 1220.00 where I will secure most of my positions and my second target is at 12000.0 If price breaks and closes above 12600.0 will no longer be interested in this position.
Let's see how this one plays out.
Renaldo Philander
What an eventful day in the markets. I am currently looking at NASDAQ, Very interesting price action happened upon the NYSE open with a beautiful liquidity grab to the upside of 12800.0, This signals that we have a lot of selling pressure to the downside.
Price was able to break a two-day range with price now trading below 12600.0, If this price point holds as newfound resistance, I do believe the Nasdaq has a higher probability of continuing the move to the downside.
My 1st target is at 1220.00 where I will secure most of my positions and my second target is at 12000.0 If price breaks and closes above 12600.0 will no longer be interested in this position.
Let's see how this one plays out.
Renaldo Philander
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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.