NASDAQ
OHLC SELL SETUP🚨 🔻🔻2023
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NASDAQ's yearly structure for the year 2023 demonstrates an OHLC (Open, High, Low, Close) Sell Setup. Upon analyzing the monthly timeframe, it is evident that the price is currently facing rejection at the resistance level of 15282.70. To capitalize on the selling opportunity, it would be ideal to wait for a close below the level of 14693.30, as this would indicate a favorable zone for entering sell positions, with sellers expected to dominate the price action.
Before initiating any sell trades, it is advisable to confirm the setup with a TDI (Traders' Dynamic Index) cross, which can provide further insight into market momentum and potential entry signals.
Once the sell trades are initiated, the first target to consider would be at 14473.66. This particular level is significant when switching to the weekly or daily timeframe, presenting an opportune zone for potential price reversals or profit-taking. Should the price continue its downward movement, the second target would be at 13309.50. Finally, the third target aligns with the monthly open at 12094.65, which also holds importance due to price retesting key zones.
It is worth noting that the price rejection aligns with the previous year's (2022) open, indicating a consistent pattern. Furthermore, both the first and second targets align with the opening levels of 2021, adding further excitement to the trade setup as price retests these crucial zones.
Taking into consideration the weekly timeframe, it is noteworthy that a bearish divergence has been forming since January 2022 and continues up until the current market price. This divergence further supports the sell bias and suggests potential downside movement in the market.
Please be aware that financial markets are subject to various factors, and it is essential to conduct thorough research and analysis before making any trading decisions. It is recommended to consult with a professional financial advisor or conduct your own research to validate and confirm the provided information.
It is crucial to exercise patience and await the TDI cross before taking any action.
Trade with Caution. Wait for valid entries.
Please support this idea with LIKE & SHARE if you find it useful.
P A T I E N C E + D I S C I P L I N E
OHLC SELL SETUP🚨 🔻🔻2023
Please support this idea with LIKE & SHARE if you find it useful.
NASDAQ's yearly structure for the year 2023 demonstrates an OHLC (Open, High, Low, Close) Sell Setup. Upon analyzing the monthly timeframe, it is evident that the price is currently facing rejection at the resistance level of 15282.70. To capitalize on the selling opportunity, it would be ideal to wait for a close below the level of 14693.30, as this would indicate a favorable zone for entering sell positions, with sellers expected to dominate the price action.
Before initiating any sell trades, it is advisable to confirm the setup with a TDI (Traders' Dynamic Index) cross, which can provide further insight into market momentum and potential entry signals.
Once the sell trades are initiated, the first target to consider would be at 14473.66. This particular level is significant when switching to the weekly or daily timeframe, presenting an opportune zone for potential price reversals or profit-taking. Should the price continue its downward movement, the second target would be at 13309.50. Finally, the third target aligns with the monthly open at 12094.65, which also holds importance due to price retesting key zones.
It is worth noting that the price rejection aligns with the previous year's (2022) open, indicating a consistent pattern. Furthermore, both the first and second targets align with the opening levels of 2021, adding further excitement to the trade setup as price retests these crucial zones.
Taking into consideration the weekly timeframe, it is noteworthy that a bearish divergence has been forming since January 2022 and continues up until the current market price. This divergence further supports the sell bias and suggests potential downside movement in the market.
Please be aware that financial markets are subject to various factors, and it is essential to conduct thorough research and analysis before making any trading decisions. It is recommended to consult with a professional financial advisor or conduct your own research to validate and confirm the provided information.
It is crucial to exercise patience and await the TDI cross before taking any action.
Trade with Caution. Wait for valid entries.
Please support this idea with LIKE & SHARE if you find it useful.
P A T I E N C E + D I S C I P L I N E