Long
nasdaq long
Updated
NASDAQ ANALYSIS đź’´
Potential reversal?
As we all know Nasdaq is a buying market and retail traders are eyeing this market due to it coming down to the demand zone of 14682.1 and 14679.7
This zone has been respect since early July
However with all the excitement hedge funds are still adding short positions according to COT data of 13th of July
But there is good news for bullish buyers. A bullish pin par has been created on the 15min time frame with a close of a bullish confirmation candle however I would wait for a bullish reversal pattern with in the demand zone before adding long potions.
Potential reversal?
As we all know Nasdaq is a buying market and retail traders are eyeing this market due to it coming down to the demand zone of 14682.1 and 14679.7
This zone has been respect since early July
However with all the excitement hedge funds are still adding short positions according to COT data of 13th of July
But there is good news for bullish buyers. A bullish pin par has been created on the 15min time frame with a close of a bullish confirmation candle however I would wait for a bullish reversal pattern with in the demand zone before adding long potions.
Note
a bullish reversal within the 1/4 hr candle would be a powerful signal.
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