Hi friends sharing weekly chart of Nasdaq for identification based on support and resistance levels on this provided weekly chart.
After too many upheavells in last 15-20 sessions finally price reached to an important support levels mates and it seems that it is respecting so far mentioned support levels and trying to bounce from there.
So guys levels are ready according to my analysis, after a confirmation of support break or support bounce if i will go for a trade will update the idea friends.
Candle Chart-:
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
After too many upheavells in last 15-20 sessions finally price reached to an important support levels mates and it seems that it is respecting so far mentioned support levels and trying to bounce from there.
So guys levels are ready according to my analysis, after a confirmation of support break or support bounce if i will go for a trade will update the idea friends.
Candle Chart-:
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
Note
Prima facie it seems that price it is bouncing form added support zone so added a resistance for going a long side trade in it if break and close above will go for a long trade in itSmaller time frame-:
Or we can say that after this bounce it is going atleast to marked resisiance for long
Note
We can say it was a nice identification of support area because after bouncing price continuously moving up towards mentioned resistance so waiting for break as added in description too. And considering it's a nice support bounceNote
Price bounced good from identified support levels and now recached to mentioned resitance for long and taking resistance i think it's hard to break in first attempt friendsDaily chart
Smaller time frame for better view of taken resistance so far
But indeed it's a good move from support levels
Note
Yesterday closed above resistance so now sharing target for this bounce back from support in this update, There are two targets one is marked in update and second if target one will break we can see price can touch falling resistance trendline too as second target and now 14600 will act as support prior it was resistance for long after support bounceNote
Trailing stop loss update-:Now i will trail my stop loss to cost (entry price) and will sit for the targets friends
Note
1000 points recovery from support levels mentioned in idea's chart now crossing a pshychological mark of 15K again on chart along with a crossover of 50 Ema on daily chart which it actually broke some day back conquered again with second consicutive session and continously heading towards marked target without any glitch after resistance for long breakoutNote
Reached very very close to resistance target of 15196 by today's high so far is 15189 and took resistance from there, Only 7 points remaining in this big target friendsSmaller time frame for better view of understanding that how a strong resistance works
Trade closed: target reached
Target Complete Awesome Gains, Cheers Friends !!
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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.