Nasdaq 100 index Bat pattern completion

28 במרץ 2021

The index is in a corrective phase on the monthly time frame. On the daily time frame it is completing the CD leg of a bat pattern whose target aligns perfectly with the 38.2% fibonacci retracement level taken on the monthly time frame. Short positions can be opened with stop loss a few pips above C point and target at the green horizontal line indicated on the chart.