NASDAQ Analysis: Preparing for Monday’s Trading 2024.12.28Hello, this is Greedy All-Day.
Today’s analysis focuses on the NASDAQ in preparation for Monday’s trading.
Friday's Trading Strategy Recap
Let’s first review the results of Friday’s trading strategy.
For buy positions, the breakout of the resistance trendline did not occur during the session, so the suggested entry above the red box did not materialize. As a result, no buy positions were taken.
For sell positions, the breakdown of the ascending trendline occurred after the European market opened. However, entry was only recommended upon breaking the green box to the downside, which occurred during the U.S. session.
As you can see, this resulted in a one-way downward trend, surpassing the target of 21558 and offering a high-probability trade for easy profits.
Maximum Profit:
1253 ticks per contract.
$6,260 per contract.
Weekly Chart Analysis
The weekly candle analysis shows the following:
After the doji bearish candle from December 16, 2024, the direction of the following week was crucial.
This week’s candle closed as a bullish candle with a long upper wick. While it filled last week’s body with an upward move, it eventually declined and closed with a long wick and a small body.
The NASDAQ is still holding support at the 20 EMA on the weekly chart, making next week’s direction critically important.
Daily Chart Analysis
On the daily chart, the NASDAQ closed below the 20 EMA.
During the session, there was steep selling pressure followed by a slight rebound near the close.
However, closing below the daily 20 EMA makes it difficult to view the session positively.
The price is likely to oscillate between the 20 EMA and 60 EMA, as highlighted in the red box, and there’s a high probability of testing the 21300 level next week.
15-Minute Chart: Buy Setup
For short-term buy opportunities, let’s look at the 15-minute chart.
The red box shows a long bullish candle closing at 21746.5. However, the price failed to surpass this level by the close of the U.S. session.
If no significant news occurs over the weekend, the price may break above this level and resolve the bearish candle within the green box, leading to a potential rebound.
If the rebound is strong, the light blue box breakout will serve as the first buy entry point, targeting 21935.
The second buy entry would occur upon breaking the upper resistance at 21989, with the next target being the resistance trendline.
15-Minute Chart: Sell Setup
For short-term sell opportunities:
The short-term ascending trendline is highlighted in red. A breakdown could trigger a short-term correction, with the red box lower boundary serving as the maximum target at 21630–21613.
For conservative entries, wait for a break below the blue box at 21476.75.
If the green box breaks to the downside, it may trigger additional selling opportunities. However, given Friday’s rebound at 21476.75, there’s a possibility of the price finding support and bouncing back.
The maximum downside target for a sell-off is the orange box lower boundary at 21008.
Conclusion
It’s been a long year, and I hope you finish it strong. Let’s work together in 2025 to achieve significant profits through disciplined trading.
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