NDX: Moving closer to key trend line resistance zone!

2020年8月6日

My swing trade strategy is to trade the 21 day moving average rebound, and then take profits when it gets close to the top end trend line, and when the market gets extended of more than 5%/7%plus from the 21 dmvg. In the beginning the 21 dmvg is the entry point and as the trend gets longer there are more highs to plot the top end reversal zone. I do think there is a lot of euphoria , FOMOFED liquidity bubble, that is in full swing in the market. There is also a 11400 P&F chart price target. Do expect some form of correction over the next 6 to 8 weeks as the index is now closer to this top trend line resistance zone!

Strategy long into this resistance zone, sell close to this top end trend resistance zone.
Buy back at the 21 day exponential moving average rebound.
More aggressive strategy will be to go short when it gets to the key resistance zone, and cover at the 21 day! Then go long at that level for the rebound!