Nasdaq primed for big drop. very ideal risk to reward area atm
This key zone[white box] is made after consolidating then making a push deeper. It doesnt like to stay in this area long and usually when it touches it, it attempts lower lows. the risk is very small to its reward so it's a no brainer for me.
I don't usually look at the Nasdaq but this was a pattern I noticed with Spy. Currently Spy's chart doesn't reflect the same as it blew past its area a while back and have been funky. Not sure how Nasdaq will play out but it did it once already, where as spy had it do it play out 3 times, each time attempting a lower low.
There are many trades to be made or can be just one super long term trade using that tiny white box as the risk all the way until you want to exit at lower lows.
I don't usually look at the Nasdaq but this was a pattern I noticed with Spy. Currently Spy's chart doesn't reflect the same as it blew past its area a while back and have been funky. Not sure how Nasdaq will play out but it did it once already, where as spy had it do it play out 3 times, each time attempting a lower low.
There are many trades to be made or can be just one super long term trade using that tiny white box as the risk all the way until you want to exit at lower lows.
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