NASDAQ Trading Idea

Price comes to the 1st possible reversal zone. We have a strong resistance level 4700 and up Bollinger Band on weekly chart. We have to wait for a bearish candle, confirmation from RSI. Only after that it will be possible to think about entry levels for short trades on the daily and hourly charts. MACD falls and it's a signal that resistance level will be able to stop this up movement. DMI confirms range market conditions and our trading must be based on the rules for such type of market. Possible profit targets are Moving Average with period 20 and opposite Bollinger Band.