Nasdaq Where iT is Going Again ?

Hi friends sharing weekly chart of Nasdaq for identification based on support and resistance levels on this provided weekly chart.

After too many upheavells in last 15-20 sessions finally price reached to an important support levels mates and it seems that it is respecting so far mentioned support levels and trying to bounce from there.

So guys levels are ready according to my analysis, after a confirmation of support break or support bounce if i will go for a trade will update the idea friends.

Candle Chart-:

This idea is meant for only educational purpose this not any kind of trading or investment advice.

Best Regards- Amit

Comment:

Prima facie it seems that price it is bouncing form added support zone so added a resistance for going a long side trade in it if break and close above will go for a long trade in it

Smaller time frame-:
Or we can say that after this bounce it is going atleast to marked resisiance for long

Comment:

We can say it was a nice identification of support area because after bouncing price continuously moving up towards mentioned resistance so waiting for break as added in description too. And considering it's a nice support bounce

Comment:

Price bounced good from identified support levels and now recached to mentioned resitance for long and taking resistance i think it's hard to break in first attempt friends

Daily chart

Smaller time frame for better view of taken resistance so far

But indeed it's a good move from support levels

Comment:

Yesterday closed above resistance so now sharing target for this bounce back from support in this update, There are two targets one is marked in update and second if target one will break we can see price can touch falling resistance trendline too as second target and now 14600 will act as support prior it was resistance for long after support bounce

Comment:

Trailing stop loss update-:
Now i will trail my stop loss to cost (entry price) and will sit for the targets friends

Comment:

1000 points recovery from support levels mentioned in idea's chart now crossing a pshychological mark of 15K again on chart along with a crossover of 50 Ema on daily chart which it actually broke some day back conquered again with second consicutive session and continously heading towards marked target without any glitch after resistance for long breakout

Comment:

Reached very very close to resistance target of 15196 by today's high so far is 15189 and took resistance from there, Only 7 points remaining in this big target friends

Smaller time frame for better view of understanding that how a strong resistance works

Trade closed: target reached:

Target Complete Awesome Gains, Cheers Friends !!