Thank you to Lizette, (one of our loyal memberss) for bringing this trade into my attention.
Nasdaq has been forming in a Falling Wedge formation.
As the price approaches 3/4s of the apex, we can expect a breakout to the upside which will send the price higher.
For a trade, we have two ways to base our take profits.
1. At the top of the wedge formation (which doesn't give it much room).
2. The price range between the high and the low added to the high.
NOTE: HPT = High Probability Trade as the previous trend is up...
Nasdaq has been forming in a Falling Wedge formation.
As the price approaches 3/4s of the apex, we can expect a breakout to the upside which will send the price higher.
For a trade, we have two ways to base our take profits.
1. At the top of the wedge formation (which doesn't give it much room).
2. The price range between the high and the low added to the high.
NOTE: HPT = High Probability Trade as the previous trend is up...
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.