Nasdaq Analysis: Fibonacci Retracement and RSI Divergence

The Nasdaq has reached an intriguing point around the 17200 area, where it sits at the 61.8% Fibonacci retracement level from the previous swing low. Price action appears to be responding to this level on lower timeframes, and we've also observed a divergence on the RSI indicator on the H4 timeframe, coinciding with the price attempting to move out of oversold conditions. We are considering a scalp position with a potential take profit at the 38.2% Fibonacci level, and possibly at the Point of Control (POC) Volume for an extended take profit.

Trade closed: target reached:

🔥 Close 50% Profit and Move SL to Entry.

Trade closed: target reached:

🔥 I'M Closing the last 50% with a great profit !!!!

Trade closed: target reached