NASDAQ How to Trade

NASDAQ How to Trade

NASDAQ 100 index of US listed shares


The price bounced from SMA50 but it could not develop further upward movement. If we get a new bearish candle today, probably it will be a signal for the falling to the support zone formed by 7200.00 level and SMA100. Buying from this zone will be more logical based on a confirmed reversal signal. Stop orders for long trades should be placed below the local swing low with profit targets at the resistance level . Also there is another variant for trading in this zone. If the price breaks the support zone , we’ll be able to open short trades with profit targets at lower support levels and stop above the local swing high.

Signals from indicators:
– RSI confirmed the price reversal
– MACD confirms the downward movement
– DMI tells us about range market conditions.

Based on the signals from indicators it’s more likely that the price will reach the support zone .
Source: TW DLavrov

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