Nasdaq broke the multi month ascending channel, and now seem to retest the zone where the channel broke in the first place, which is a good area for bears to enter the market with a good RR.
Note
Price has made a new high. How the market reacts at this level is critical. If bulls cannot sustain the price above the previous high, then the selloff could be dramatic. Let's watch.Note
Uh oh! Bearish engulfing... Look out! Sign of bulls weakness...Note
Clearly the bulls haven't stopped.Note
Probably should wait a bit and let the market dictate the overall direction. I'm still leaning towards the bears. Note
Bears have started to break important support levels. Note
Big support broken. Note
New month... maybe this is a sign of more buyers coming in... Patience is the name of the game on this one.Note
New wave up? Note
Guys, it's important to adapt to what the market is doing. I had already changed my bias and I posted it right here. The market does what it wants, just trade what you see and not what you want to see. I saw a new move up forming and I followed it.
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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.