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NASDAQ INDEX- HEAD & SHOULDER PATTERN Not a trading call. Purely for Educational Purpose. Consult Financial Advisor before taking any trades. ------------------------------------------------------------------------------------------------------------------------------ Pattern Name-Head & Shoulder The pattern forming right at the top- What does indicates? Question - Market Participants Need to Ask Themselves ---------------------------------------------------------------------------------------------------- If the pattern is correct - the target is the vertical distance from the head top to the neckline
NASDAQ:NDXEducation
by WaveTalks
8
Nasdaq fall & the road aheadOn Sep 4, 2020, the first day after massive fall, Nasdaq touched the lows of 11,146 (5.3% low from the previous day closing), the low price however faced rejection and market closed at 11,622.10, down by 1.27%. The close was at the support line connecting the pre-COVID fall highs on Feb 19 with the lows of Aug 21 (Shown as B line in charts). Traders and analysts were eagerly waiting to see the next move after a long weekend due to the Labour Day holiday. This was because even after heavy fall on Sep 3, upward channel formed since March 23 was still seen intact and there was lower price rejection observed immediately after the day of fall, making revival hopes alive. On Sep 8, Nasdaq broke the above support line at opening itself, it also broke the next most crucial support line of upward channel formed since March 23. (shown as A - green line). This closing can be seen even more negative as there was clear price rejection at upper level, leaving the only solace that it closed just above DMA50 levels of 11,066.20, which now remains its immediate support point. The key challenge is re-entry in upward channel i.e to close above 11,366 (level for Sep 9). On downside around 10,850 is the next support level which is also the lows of Aug 2020 (shown as Line C), followed by 10,485 at line D. Fibonacci level of 61.8% stands at 10,274 and 50% retracement level is at 9605 (line F) which has played support and resistance at multiple occasions in the past and is also crucial point of pre COVID fall. - Rajesh Ramchandani
TVC:NDQEducation
by Rajesh_Ramchandani_Delta
NDX Short I hope you can now see how NDX represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Example presented in these chart is for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
TVC:NDQShort
by EntryandExit
NDX Short I hope you can now see how NDX represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Example presented in these chart is for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
TVC:NDQShort
by EntryandExit