NASDAQ – A good, technical trend.

After NDAQ triggered this Head & Shoulders, the target of this pattern is the 116.19 (green line). Now, we see a pullback, and today the price met the 21 ema and formed a harami / hammer. It is very good, and if triggered could be a very good, quick trade, with a clear stop and nice risk/gain relationship.

I wish it would sink a little lower, to 100 point region (blue line), because it served as support and resistance alike in the past (green squares). But we should work with we got. The low volume of today’s candle is a little disturbing, so, keep your eyes open.

The hourly chart gives us more clues about what’s next. There are two supports here, the red line and the blue line (which is the same from the daily chart). If it goes down that region, the pullback will continue a little further.

1H chart:

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We can also see a double bottom here (Eve & Eve double bottom), that could take the price easily to 111. The setup here is simple: If the price breakout the 106, and the candle closes above, it is a long trade. This pattern has 66% chances of a pullback rate, so prepare yourself.

If it helped you, support the idea and follow me for more analysis.
Thank you. Good trades.
Double BottomDouble Top or BottomHammerharamiHead and ShouldersnasdaqNDAQTrend Analysis

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