Mid-term trade I’m already in. The way I plan this trade is I think Nasdaq is going back to 13400 momentum seems to have run out of steam, in the next week/s i expect Nas to go down around 13400 where I think it’s gonna find support and also an area where I’m going long. You can either short it or play it the safer way and order longs at 13400. If we hit 13400 I’m...
price is reaching an area of selling pressure. if bears can regain control of this crucial area we can see another leg down. price has reached the golden pocket of 71.2 fib. fundamentals are also supportive as NFP drops this week an numbers are expected to be the worse in decades. no reason to rally in this economic crisis
Short USTEC 100
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Sound quality is not great because I'm away from home, working on my laptop. Important things in this:
1. This is a parabolic chart in the last few months.
2. The uptrend on the weekly and daily time frames appear to show some weakening.