NASDAQ tipped down to ascending support for a buy swing!!!!

11 gen 2022

NAS100USD has tipped down and formed a fake breakout of the ascending trendline that formed since November 2020. This fake breakout is supported by the bullish hammer that formed yesterday (circled in green). A Bullish hammer on support suggests that a nice bullish rebound is on the way. What's more? all indicators show that NASDAQ is highly oversold in the 1M timeframe. And with the general trend being upwards, this opportunity looks promising with a high P/L ratio! We are going for the following levels:

Entry: 15,500-16,000
SL: 14,950 (or lower)
TP: 17,000 (or higher)
P/L ratio: 3X+

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Taking this opportunity requires holding for at least 3 weeks if not more, but with patience, the price should reach the target. If you decide to take this opportunity, always use risk management and don't risk more than 1% of your capital per position. Don't risk what you cannot afford to lose. If you like the idea, please like it and follow us for more ideas! Happy trading from the AIE family and have a great day!


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