NASDAQ As shown on the weekly timeframe price went on to take out our inducement zone and mitigate the weekly bearish order block with long and impulsive candles, this weekly analysis concludes that for the next coming months we can maintain a bearish sentiment unless willing to trade pullbacks which will be bullish. Price will be on an overall bear trend for the next coming 3-6 months if fundamentals are on our side, BUT PRICE IS EXPECTED TO PRDUCE A CHOCH ENTRY SETUP IN THE NEXT 4-8 WEEKS(expect updates anytime)1.possible levels for pullbacks will be: 14550 / 13573 / 12898 / 11735,price will likely bounce of from these levels before becoming bearish again. From these levels we can await bullish setups on lower timeframes (3/5/15/30/45 min and the 4h )
2.Proper bearish setups will start to form now on lower time frames
Expect entry updates any time from now.
Trade active
As stated before entry setups can be searched for anytime from nowNote
Analysis believes that there can not be any further move to the upside because there aren't any POIs to act as magnets for price to move towards them apart from the existing weekly Order Block
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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.