Fellow traders, listen up! We've got a promising setup on the 4-hour timeframe for NASDAQ that's worth your attention:
📌 Technical Analysis Highlights 📌 💰 Reversal Strategy: After securing nearly 1000 points with short positions, it's time for a strategic shift towards buying opportunities.
🦇 Bullish Bat Pattern: The price action has completed the D leg of a bullish bat pattern, signaling the potential for a bullish reversal.
📈 RSI Confirmation: The RSI is in highly oversold territory, providing a strong confirmation of the setup.
🕯️ Candlestick Insight: Notably, the price is already bouncing, setting the stage for a potential rise during the American session this afternoon.
With these compelling technical signals, it's a prime time to consider a long position on NASDAQ. Keep a keen eye on the American session for potential market-moving developments.
Aim for the 0.382 fibonacci as a TP1 and the 0.618 as the target
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