Get ready for Monday's Nasdaq 25.01.20
Hello, this is Greedy All-Day.
Today’s analysis focuses on the NASDAQ.
NASDAQ Daily Chart Analysis
Chart:
On the daily chart, the NASDAQ shows a breakout above the short-term corrective trendline, signaling a potential trend reversal.
Key Developments:
The price has broken above the 20 EMA on the daily chart.
It also rebounded before breaking below the Ichimoku Cloud, hinting at a potential return to new all-time highs.
Support and Resistance:
Support: The 20 EMA, currently around 21390, serves as short-term support.
Resistance: The chart suggests that significant upside remains open, with fewer immediate barriers overhead.
Current Pattern and Resistance
Chart:
The NASDAQ is currently near its only remaining resistance trendline, created between December 17–18, 2024 (orange box).
Key Points:
Beyond this trendline, there are no further descending resistance trendlines.
Resistance will then come from horizontal supply zones or historical highs.
Breakout Potential:
If the price breaks the green box resistance zone, the next key resistance is one of the two white box zones.
A breakout beyond the white box zones could pave the way for new all-time highs.
Today’s Buy Strategy
Chart:
Entry Trigger:
Breakout above both the remaining resistance trendline and the recent high at 21682.5.
Target Levels: Horizontal resistance levels (marked on the chart).
Rationale:
A breakout above the long-term descending resistance trendline, combined with a breakout above the previous high, would likely lead to entry into the blue box supply zone on the left.
This would increase the likelihood of a continuation toward higher levels, fueled by the supply zone dynamics.
Today’s Sell Strategy
Chart:
Entry Trigger:
Breakdown below the orange ascending trendline and a break below 21481.
Target Levels: Horizontal support levels (marked on the chart).
Rationale:
A break below the ascending trendline would indicate weakening momentum.
If a pennant-like pattern forms and the price breaks below the starting zone of the pattern, it would signal a high likelihood of a trend reversal.
The green box highlights the potential breakdown area.
Additional Note:
If the price consolidates and the ascending trendline is broken above 21481, adjust the target to 21481 as the maximum downside level.
Conclusion
The NASDAQ is at a critical juncture, with potential for both significant upside and downside moves:
For Buyers: Watch for a breakout above 21682.5 for potential continuation into the supply zone and beyond.
For Sellers: Monitor for a break below the ascending trendline and 21481 for potential downside momentum.
Stay cautious, and trade strategically based on key levels. 🚀
Today’s analysis focuses on the NASDAQ.
NASDAQ Daily Chart Analysis
Chart:
On the daily chart, the NASDAQ shows a breakout above the short-term corrective trendline, signaling a potential trend reversal.
Key Developments:
The price has broken above the 20 EMA on the daily chart.
It also rebounded before breaking below the Ichimoku Cloud, hinting at a potential return to new all-time highs.
Support and Resistance:
Support: The 20 EMA, currently around 21390, serves as short-term support.
Resistance: The chart suggests that significant upside remains open, with fewer immediate barriers overhead.
Current Pattern and Resistance
Chart:
The NASDAQ is currently near its only remaining resistance trendline, created between December 17–18, 2024 (orange box).
Key Points:
Beyond this trendline, there are no further descending resistance trendlines.
Resistance will then come from horizontal supply zones or historical highs.
Breakout Potential:
If the price breaks the green box resistance zone, the next key resistance is one of the two white box zones.
A breakout beyond the white box zones could pave the way for new all-time highs.
Today’s Buy Strategy
Chart:
Entry Trigger:
Breakout above both the remaining resistance trendline and the recent high at 21682.5.
Target Levels: Horizontal resistance levels (marked on the chart).
Rationale:
A breakout above the long-term descending resistance trendline, combined with a breakout above the previous high, would likely lead to entry into the blue box supply zone on the left.
This would increase the likelihood of a continuation toward higher levels, fueled by the supply zone dynamics.
Today’s Sell Strategy
Chart:
Entry Trigger:
Breakdown below the orange ascending trendline and a break below 21481.
Target Levels: Horizontal support levels (marked on the chart).
Rationale:
A break below the ascending trendline would indicate weakening momentum.
If a pennant-like pattern forms and the price breaks below the starting zone of the pattern, it would signal a high likelihood of a trend reversal.
The green box highlights the potential breakdown area.
Additional Note:
If the price consolidates and the ascending trendline is broken above 21481, adjust the target to 21481 as the maximum downside level.
Conclusion
The NASDAQ is at a critical juncture, with potential for both significant upside and downside moves:
For Buyers: Watch for a breakout above 21682.5 for potential continuation into the supply zone and beyond.
For Sellers: Monitor for a break below the ascending trendline and 21481 for potential downside momentum.
Stay cautious, and trade strategically based on key levels. 🚀
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.