The NASDAQ appears to be following Elliott Wave Theory, where it's currently situated in what's projected to be Wave 5 of Primary Degree. Within this wave, it's believed to be in Wave 3, which typically signifies a strong upward movement in prices we are seeing now.
This suggests that we may see a bit more upward momentum in the NASDAQ before a correction phase...
Gold or Nasdaq: What to Short this Week?
For Gold (XAU/USD), the 4-hour chart suggests a neutral-to-bearish stance. While the pair is currently above its moving averages, the 50-day moving average is closely trailing its price. The Relative Strength Index (RSI) is dropping towards a neutral level, indicating a potential pause in buyer activity. If Gold drops...
Well let me tell you @Maddy50 frankly chart is not looking that much attractive but it is just making zigzag pattern in a bullish range. But still if you see breakout in it then it could be a best buy for upside and we can see PINS towards 37/40+ levels in coming months. But we should wait for breakout. Or one another trade can be executed at lower levels...
Google has formed Cup Handle Pattern on daily timeframe chart. This is bullish pattern, we can take swing trade here.
We can go Long after close of bullish candle above the resistance zone as marked on chart.
Usually for Cup & Handle Pattern target is equal to the depth of cup, we are going to keep the target near the next resistance...
Attached: NDQ Daily Live Market Chart as of 20th March 2023
- Price has triggered a Bearish Anti Butterfly Harmonic Pattern
- Price has also broken Previous Day Low with Previous Day being a Doji Candle
- And this Sell Off today comes after a Run up which is potentially a False Breakout from a Bull Flag
- The saying goes like, "From False Moves come Fast Moves in...
my first target is 12800
fourth down move completed on daily need confirmation on weekly time frame rsi bullish on daily so i will be buying any pullback on nasdaq
the whole down move was a correction if this level holds (retracement ) level marked on the chart and if all pieces of puzzles are put correctly 20000 on nasdaq is not very difficult only...
-can see cup and handle formation on charts one way target if breaks would be 5%
-feds stance will act as a trigger (break out or breakdown)
-2nd opinion even if trendline is breaken the minimum target would be 5% acc to some books on tech analysis.
Keep a good watch on
Whether Long term channel will keep it down
or it would continue in uptrend channel.
Still struggling in up channel, let's see
Which turn it would take.
It's an analysis, not a trading advice, trade with due diligence.
Nasdaq on day chart has formed Head and shoulder pattern and may fall very fast in case of bad news..... the Stop loss will be 9/20 High in case of trend reversal. Hope this doesnt happen.
On weekly there is inverted cup and handle pattern forming.
I wish it doesnt fall so much.
Markings are on chart. Based on Fibonacci. I think 4th is going on. Consolidation is the characteristic of 4th wave. Correction can be 38.2-50% of 3rd wave. In worst case scenario, it can be 61.8% . It should not touch high of 1st in any case.