NASDAQ: False Breakout and Bearish Forecast

hey traders,

I have noticed a very peculiar thing on NASDAQ.

on the price chart, I compare with you the market sentiment in 2018 and 2019.

I like the similarity in price action and the fact that both consolidations have started in summer and after a strong bullish impulse.

Though similarities do not give us a 100% chance, I still believe that we can apply it in our analysis and it lets us be skeptical about further bullish continuation, no matter how media praises the growth.

Share with me your thoughts!

Komentarz:

Oh and by the way
the breakout to the upside will be considered to be false
only if the market will break below the horizontal narrow range on 1H