Nasdaq: Buy opportunity on identical fractals.

Nasdaq has so far made a +13.55% rise from the December low, the strongest bullish sequence since the October All Time Highs. If this sequence is not a Dead Cat Bounce, then we've spotted a fractal that shows it can make an additional +8.45% rise in the coming weeks.

Illustrated in orange is the December 02 - December 25 candle sequence that led to the recent 5,820 low. Since then, the current bullish candle sequence is identical to that, only inversed of course. Essentially so far it looks like it is the same fractal. Now there are a lot (mostly fundamental) reasons that can break this candle sequence (without necessarily changing the bullish course) but it can be a useful guide for the long entries.

Based on the ATH/ 5,820 low Fibonacci retracement levels, a more modest long TP would be the 0.5000 retracement of 6,777.50 if you want to avoid taking the 100% fractal risk.





** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.