Hello fellow risk-takers
Today's medium-term analysis is NASDAQ. As follows:
Prevailing Bias: Bearish
Current Price Action: Bullish retracement
Commentary: the instrument is overall bearish and further lower lows can be expected in the coming weeks. At present however, we seem to lack the bearish will to form those lower lows. In other words, we need sufficient momentum to impulsively drive price down. Such momentum can be collected in two ways: first, via the agency of high-impact economic news; second, via bullish retracement to the area around the previous high at which sellers' liquidity is overflowing. The second option is always assumed.
Trade well and take care.
Today's medium-term analysis is NASDAQ. As follows:
Prevailing Bias: Bearish
Current Price Action: Bullish retracement
Commentary: the instrument is overall bearish and further lower lows can be expected in the coming weeks. At present however, we seem to lack the bearish will to form those lower lows. In other words, we need sufficient momentum to impulsively drive price down. Such momentum can be collected in two ways: first, via the agency of high-impact economic news; second, via bullish retracement to the area around the previous high at which sellers' liquidity is overflowing. The second option is always assumed.
Trade well and take care.