Nasdaq: 22-01-2020 Update - "Trap day (Wave 4)"
Nasdaq is trapping Bullish and Bearish traders with multiple false breakouts (red/green circles). With MACD also showing indecision with constant crosses above and below the signal line.
My bias is still bullish, waiting for a clear evidence of strength to go LONG (for the DOW and S&P500 to be aligned). So far Nasdaq is finding support on the Moving Average 55.
If the triangle breaks to the upper side, will go LONG with targets at 127% and 150% Fibo levels, else I would stay still.
My bias is still bullish, waiting for a clear evidence of strength to go LONG (for the DOW and S&P500 to be aligned). So far Nasdaq is finding support on the Moving Average 55.
If the triangle breaks to the upper side, will go LONG with targets at 127% and 150% Fibo levels, else I would stay still.