This is just a simple old way of trading with Pure Price Action. A long-term view of the Nasdaq. On a weekly time frame, it provides some interesting ideas for going long, let me start by stating that we are on an uptrend, and currently we just experiencing a retracement, a correctional wave. Some people explain it as a point where sellers are given an opportunity to close their loss cheap while on the other hand, it's providing an opportunity for banks that missed an entry earlier to start buying, or simply the ICT or SMC traders call it craping liquidity and triggering buy stops.
In pattern trading form we can say that we are having a flag pattern and the market is about to continue the trend. The move is about to start now, the reason being that we are having *equal lows* meaning we might be presented with a *double bottom* that will *break the trendline* and skyrocket 🚀🚀
In pattern trading form we can say that we are having a flag pattern and the market is about to continue the trend. The move is about to start now, the reason being that we are having *equal lows* meaning we might be presented with a *double bottom* that will *break the trendline* and skyrocket 🚀🚀