NASDAQ Falling Wedge bullish breakout

٨ مايو ٢٠٢٣

Nasdaq crossed over the Falling Wedge pattern, which is a minor construct inside the long term Channel Up.
The breakout started after the price rebounded on the MA50 (4h).

Trading Plan:
1. Buy on the current market price.

Targets:
1. 13600 (5.66% rise and near Resistance 1).

Tips:
1. The RSI (4h) is identical to the RSI on the first Falling Wedge breakout of this Channel Up. This is how the +5.66% expectation is calculated.
2. The MA50 (1d) is a little under the Channel Up and is the current Support and last buy entry if the price pulls back.

Please like, follow and comment!!

Notes:
Past trading plan: