NDX-100: Much needed consolidation underway! Levels to watch:
NDX-100: Much needed consolidation underway!
Levels to watch are: the front cloud for first level of support at 10492, then the cloud chart base line level at 10276, and if the consolidation is really aggressive, the bottom end of the cloud at 10276! These levels are ideal points for a swing trade entry.
Price action is above the cloud and that remains bullish long-term!
Negative point is the huge bearish engulfing candlestick at the high!
The current trade is up 2455 points of 30%, so far so good for the NDX! Trailing stop loss is twice the ATR!.
Levels to watch are: the front cloud for first level of support at 10492, then the cloud chart base line level at 10276, and if the consolidation is really aggressive, the bottom end of the cloud at 10276! These levels are ideal points for a swing trade entry.
Price action is above the cloud and that remains bullish long-term!
Negative point is the huge bearish engulfing candlestick at the high!
The current trade is up 2455 points of 30%, so far so good for the NDX! Trailing stop loss is twice the ATR!.
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