Get started
US 100 Index
Short

NASDAQ topping pattern -- danger 2nd WAVE COVID & election

By Outside_The_Box_NZ
Updated
NDX

  • All three confirmations for price to correct below neckline of "incined" Head and Shoulders --
  • Growing concern over fresh lockdowns hit travel sector hard while banks and oil price also suffer
  • RSI nearing overbought 65 to 70 -- also on Right Shoulder
  • The riots and unprecedented uncertainty concerning many national elections from NZ to USA coming in OCT and NOV into year end 2020

Look for first 4H red candle below the high close of the right shoulder to Scale into a Short position in NDX and other high Beta risk assets like AUDUSD and NZDCHF and GBPCHF
Trade active
price nudging down right shoulder now towards all important neckline
Trade active
Trade closed: stop reached
Chart PatternsEquityFundamental AnalysishighbetaTechnical IndicatorsnasdaqNASDAQ 100 CFDNASDAQ 100 CFDndxshortriskaversionriskoffStocks
Outside_The_Box_NZ
Also on:

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.