Hi traders:
NDAQ has similar bearish structure price action like SPY.
We see price is in this higher time frame channel structure since the mid April.
Price correctively move up in the structure, and the recent price action has a structure for reversal from the top of the channel.
We see a strong bearish move down in the lower time frame, so naturally I would look for continuation correction to sell.
Will re-evaluate once price manages to get to the bottom of the channel structure.
Thank you
NDAQ has similar bearish structure price action like SPY.
We see price is in this higher time frame channel structure since the mid April.
Price correctively move up in the structure, and the recent price action has a structure for reversal from the top of the channel.
We see a strong bearish move down in the lower time frame, so naturally I would look for continuation correction to sell.
Will re-evaluate once price manages to get to the bottom of the channel structure.
Thank you
Note
Waiting for this correction to develop and complete.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.