Nasdaq (NDX/US100)
Our expectations: Probable an increase after correction to a major trend line. Pin bar on support level and a fake breakthrough of EMA50.
Alternative scenario: If the price falls under the shadow of the pin bar and closes below it, it is possible to follow a deeper retracement and test around 23.6% Fibonacci level.
Comment: Long-term uptrend with correction to a major diagonal support. Currently the price makes 50% correction of the pin bar shadow which gives us good opportunities for entry with lower risk.
EMA50/200 - in bullish formation
Price Action: Pin bar on support - signal for promotion
DeM(14) has approached the level of 0.3 and turned up - the upward movement is more likely.
SL: 5575
Jr Trader Ivan Ivanov
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