NASDAQ Can Reach 13000 If This Breakout Is Maintained

1 thg 12, 2020

Traders, NASDAQ (NAS100) just created a new All Time High. If this level is held by the market and continues further then it can reach 13000 easily with a intermediate top at 12800 or so. But it is critical that this breakout is maintained because at the moment it looks like a triple top. We must wait for a daily or weekly close to make sure that we have a proper breakout before we jump into this long opportunity.

Logic:
The fib extensions on important levels have created a great FCP Zone (Fibonacci Confluence Pattern Zone) which is confluence with 13000 round number. This FCP zone can attract the price and then reject it.



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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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