NASDAQ Breakout and Potential retrace

12 thg 3, 2023

Hey traders, NAS100 was trading in a downtrend and successfully managed to break it out and now is in a correction phase. in tomorrow's trading session i will be watching a potential retrace around 11600 supply and demand zone of the trend, keeping an eye on DXY too as it correlates negatively with the stock market. if CPI data comes soft that will push DXY to the downsides and NASDAQ to upsides. and incase of high CPI that will signals more of a hawkish monetary policy. Dollar strength and a change in plan for NASDAQ.
Trade safe, Joe.