NASDAQ Short term sell on the MA50 (4h).

2023年7月11日

Nasdaq is testing the MA50 (4h) as the short term Resistance.
Ahead of Wednesday's U.S. CPI any short term estimate can be invalidated by the usual high volatility but technically, as long as that level holds, it justifies the completion of a Channel Down same as June 15th-26th.
The long term pattern remains a Channel Up, so any pull back is a long term buy opportunity as long as the MA50 (1d) holds.

Trading Plan:
1. Sell on the current market price.
2. Buy at the bottom of the Channel Up.
3. Sell if Support (1) breaks.

Targets:
1. 14850 (expected contact with the MA200 4h).
2. 15450 (+4% rise as previous rebound).
3. 14550 (expected contact with the MA50 1d).

Tips:
1. The RSI (4h) has offered the ideal sell on its 70.00 overbought level and the ideal buy near its 30.00 oversold level. Use it as an additional indicator.

Please like, follow and comment!!

Notes:
Past trading plan: