Hello Traders and Investors, today I will take a look at the Nasdaq.
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Explanation of my video analysis:
For over a decade the Nasdaq has been trading in a pretty obvious rising channel formation. We saw the last retest of support in 2022 which was followed by an enormous +70% rally towards the upside. Considering that the Nasdaq is now retesting the upper resistance, there is a quite high chance that we will see at least a short term correction lower before the Nasdaq will follow its overall uptrend.
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Keep your long term vision,
Philip (BasicTrading)
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Explanation of my video analysis:
For over a decade the Nasdaq has been trading in a pretty obvious rising channel formation. We saw the last retest of support in 2022 which was followed by an enormous +70% rally towards the upside. Considering that the Nasdaq is now retesting the upper resistance, there is a quite high chance that we will see at least a short term correction lower before the Nasdaq will follow its overall uptrend.
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Keep your long term vision,
Philip (BasicTrading)
Just be patient and focus on the higher timeframes - setups will eventually come: