Nasdaq 100 is forming falling wedge pattern. If other market factors supports and it today close in green then bullish rally may start in couple of weeks.....
Analysis: Nasdaq 100 Bullish Flag Breakout Trade
Based on the bullish flag pattern breakout in Nasdaq 100 and your expectation of more buyers entering the market, i have identified a trade opportunity. With a buy entry at 15129.7, a stop loss at 14626.0, and a take profit at 16694.7, i have defined your risk and reward targets. Here is a breakdown of the analysis...
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...
NAS is bullish currently , digging deeper into the daily imbalance. I want to see it reach that weekly imabalance.
We will see how it reacts to that level before jumping into the conlucion
For now my next draw on for nas is that weekly imbalance.
Bearish bais as SPX500 still needs to take that sellside pool (daily timeframe).
Nasdaq is heading toward daily fvg after which it will come back to institutional orderflow and head downside as the weekly opening gap still needs to be filled.
It can be today tomorrow or other day but the gap will be filled so wait for that price delivery.
GOODLUCK trading NAS <3
Please don't curse me if this does not turn out to be true, considering the eco-geo-political developments happening all around the world. But, I'm sharing what I'm visualizing. Right now we are taking support at the bottom of the channel or handle of the cup. From hereon, if we are breaking the handle/channel and cup-line upwards, I see NASDAQ testing 21450...
Look at the Lower High formations in this chart. This is a clear sign of a downtrend. One should be very careful in the market when such trends appear because there are only 3 trends in total. Markets can either be Bullish, Bearish or Sideways. Nasdaq has gone into a bearish trend and one needs to be very careful as US markets and the economy itself is tanking....
The us index has formed descending triangle on daily charts 14532 has been a crucial support and in short term it can rebound a bit till 15172 after it a steep downhill rally can be followed moreover if the war situation worsen up the support can be broken
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
