Trade of the day NASDAQ

NASDAQ strong bounce

 

NASDAQ is bouncing strongly from key support 14500. This is medium-term uptrend support coupled with a channel support line. We expect this bounce to lead to a test of 15200 at least which is a key upside extension level. This bounce is leaving the instrument in a 5th wave still.

Note: look for the long trade entry with the stop loss below 14600

 

NASDAQ price action technical analysis

 

 

 

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