NASDAQ has broken through a key level, and appears to be forming a bearish flag on the 1H timeframe. We are now waiting for price to reach the zone marked on the chart. Once there, we will wait for bearish indicators and then look to go short if we see rejection at this zone. The zone seems like a good area to go short due to multiple technical indicators aligning. An impulsive break above here makes the idea null.
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Best of luck traders!
Be sure to follow me for more ideas and analyses. Leave a comment and share with fellow traders.
Best of luck traders!