NASDAQ Pull-back started. Where to re-buy.
Nasdaq (NDX) made a perfect pull-back and rebound following our most recent analysis and hit (even overextended) our 12530 target:
Since the rise has been that strong we are switching to a Fibonacci approach. The previous two pull-backs (almost) hit both the 0.618 Fibonacci retracement level before rebounding around +9.00%. From yesterday's High, the 0.618 Fib is at 12290. A contact with the 4H MA50 (blue trend-line) will further solidify it as a buy entry. Our buy target in that case will be 13370 (around +9.00% rise, which happened 3 times in January). Additionally, the RSI Buy Zone can also help to determine if that timing to buy is right.
This 1-month pattern will be invalidated if the price closes below the Higher Lows trend-line, in which case Nasdaq will seek the 4H MA200 (orange trend-line) as the long-term Support.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
Since the rise has been that strong we are switching to a Fibonacci approach. The previous two pull-backs (almost) hit both the 0.618 Fibonacci retracement level before rebounding around +9.00%. From yesterday's High, the 0.618 Fib is at 12290. A contact with the 4H MA50 (blue trend-line) will further solidify it as a buy entry. Our buy target in that case will be 13370 (around +9.00% rise, which happened 3 times in January). Additionally, the RSI Buy Zone can also help to determine if that timing to buy is right.
This 1-month pattern will be invalidated if the price closes below the Higher Lows trend-line, in which case Nasdaq will seek the 4H MA200 (orange trend-line) as the long-term Support.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.