NASDAQ Minor correction expected. Where to buy?

Nasdaq (NDX) has almost reached the top (Higher Highs trend-line) of the Channel Up pattern that started on the October 26 2023 bottom. The last Higher Low was made on April 19 2024 and ever since, a strong Bullish Leg in the form of a Channel Up (dotted), took the index above both the 1D MA50 (blue trend-line) and 4H MA200 (red trend-line).

Since the last Bullish Leg topped at around a +20.87% rise, we can assume that the price has entered a rejection zone. The only parameter left to confirm this, is for the 1D MACD to form a Bearish Cross. As you can see the two Bullish Legs are fairly similar so far in their price action.

With the late December 2023 - early January 2024 pull-back bottoming on the 4H MA200 exactly, we are expecting a symmetrical pull-back to that level again, where we will be looking to add more buys and target 20700 (top of the 8-month Channel Up).

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇