NASDAQ dumped back to support, bearish Crab @ 11530
Yesterday the markets plunged with metals leading the way.
Stock indices dropped even though Russia invented a Covid vaccine.
I see a massive vol spike in NASDAQ at support, this is quite a bullish signal in my opinion.
A big crab pattern has yet to complete for the NAS at above 11500, therefore I think the trend can potentially continue higher this week until this pattern is completed.
Currently at this support zone, I will go long with targets at the completion of the crab pattern.
Stops will be just below previous swing low around 11840.
After the crab completes , I might look for potential sells again.
Good luck and good trading!
Stock indices dropped even though Russia invented a Covid vaccine.
I see a massive vol spike in NASDAQ at support, this is quite a bullish signal in my opinion.
A big crab pattern has yet to complete for the NAS at above 11500, therefore I think the trend can potentially continue higher this week until this pattern is completed.
Currently at this support zone, I will go long with targets at the completion of the crab pattern.
Stops will be just below previous swing low around 11840.
After the crab completes , I might look for potential sells again.
Good luck and good trading!