We did well, but it is time to be careful.
Ok, let’s talk about a few points to keep in mind here.
First, the Nasdaq did break the upper line we have been talking about, which is a sign of bullish strength. I didn’t buy though, as the RSI was showing an advanced breakdown yesterday, and you know that I already booked the profits from basically all my trades, so, buying QQQ wouldn’t make too much sense to me.
Today, we have a head and shoulders, and the index is back to the congestion. This is not good, because the index is pretty boring. It seems it'll seek the ATH, but we must see it breaking the 13,700 for good.
Another thing that we should keep in mind is the resistance at 13,700, which was our target this week. The Nasdaq can’t break it, and we see a range in the 4h chart.
This tells me that Nasdaq is not interesting right now, and I think we have better things to trade. My opinion, of course. But I did book my profits here, and I’m still looking for something. I just don’t see anything good around, either to long or short.
I’ll keep you guys updated. Next week we’ll see what to do.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
First, the Nasdaq did break the upper line we have been talking about, which is a sign of bullish strength. I didn’t buy though, as the RSI was showing an advanced breakdown yesterday, and you know that I already booked the profits from basically all my trades, so, buying QQQ wouldn’t make too much sense to me.
Today, we have a head and shoulders, and the index is back to the congestion. This is not good, because the index is pretty boring. It seems it'll seek the ATH, but we must see it breaking the 13,700 for good.
Another thing that we should keep in mind is the resistance at 13,700, which was our target this week. The Nasdaq can’t break it, and we see a range in the 4h chart.
This tells me that Nasdaq is not interesting right now, and I think we have better things to trade. My opinion, of course. But I did book my profits here, and I’m still looking for something. I just don’t see anything good around, either to long or short.
I’ll keep you guys updated. Next week we’ll see what to do.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
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