NASDAQ Same Bearish Price Action, Watch for sell

Hello traders:

Very similar price action development like SPX, here on NASDAQ its forming similar structures that could lead to the bearish move we have been patiently waiting for.

We can see price has been correcting in the al a larger ascending structure for quite sometimes now. Very similar like previous price action before Covid drop.

Latest price has a quick move to the upside, hitting the top of the HTF structure, but failed to continue higher.

Instead what we get is a reversal correction at the top, and if we get a confirmation reversal with a bearish impulse on the lower time frame, that could lead to the HTF move as well.

Be on the lookout for the last confirmation on the LTF, bearish continuation correction after the initial push down would be the ideal entry.

Thank you

Yorum:

Higher time frame:

Yorum:

Lower time frame bearish continuation price action