There is extreme pessimism with respect to Nasdaq and US IT Tech companies and they have corrected heavily from top. It looks like that NDQ is making a double bottom formation on weekly tf at fibo golden ration i.e. 61.8% retracement from Covid low to ATH.
There is also a formation of falling wedge pattern which is visible potentially and risk is to reward looks good to accumulate Nasdaq here for long term bet.
There is also a formation of falling wedge pattern which is visible potentially and risk is to reward looks good to accumulate Nasdaq here for long term bet.
Trade active:
Going good so far.
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I don't see any major change in setup and still going good so far...even with all the news flow
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Keep a watch on the levels marked in the chart
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Going good so far
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Nasdaq going stronger and stronger
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Nasdaq 20% up since this analysis
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Nasdaq weekly closing above 14K !!