good morning you lot hope you guys have a profitable trading week! my expectations on nasdaq for this week are to go long on it and my reasons are as follows
1. we formed a double bottom and broke it's neckline on the daily timeframe
2. there was a breakout of a downward trendline also on the daily timeframe
3. market has formed a new higher high and broke through previous highs
4. there is a high level of bullish momentum as seen by the size of the candlesticks on higher timeframes
5. i will take entries at the retest of structure as shown on the charts either the resistance level we just broke through now or the one we broke through last week
as my bias changes i'll make sure to update my analysis but feel free to share your insights
God Bless!!!!!
1. we formed a double bottom and broke it's neckline on the daily timeframe
2. there was a breakout of a downward trendline also on the daily timeframe
3. market has formed a new higher high and broke through previous highs
4. there is a high level of bullish momentum as seen by the size of the candlesticks on higher timeframes
5. i will take entries at the retest of structure as shown on the charts either the resistance level we just broke through now or the one we broke through last week
as my bias changes i'll make sure to update my analysis but feel free to share your insights
God Bless!!!!!