NASDAQ Falling Wedge bullish breakout
Nasdaq crossed over the Falling Wedge pattern, which is a minor construct inside the long term Channel Up.
The breakout started after the price rebounded on the MA50 (4h).
Trading Plan:
1. Buy on the current market price.
Targets:
1. 13600 (5.66% rise and near Resistance 1).
Tips:
1. The RSI (4h) is identical to the RSI on the first Falling Wedge breakout of this Channel Up. This is how the +5.66% expectation is calculated.
2. The MA50 (1d) is a little under the Channel Up and is the current Support and last buy entry if the price pulls back.
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Notes:
Past trading plan:
The breakout started after the price rebounded on the MA50 (4h).
Trading Plan:
1. Buy on the current market price.
Targets:
1. 13600 (5.66% rise and near Resistance 1).
Tips:
1. The RSI (4h) is identical to the RSI on the first Falling Wedge breakout of this Channel Up. This is how the +5.66% expectation is calculated.
2. The MA50 (1d) is a little under the Channel Up and is the current Support and last buy entry if the price pulls back.
Please like, follow and comment!!
Notes:
Past trading plan:
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