Bearish NASDAQ breakout update with a short opportunity
We can see on the charts, price broke ascending channel that started in 1 AUG 20 at price 10500.
price failed to form HH after the last high in 22 NOV 21 at price 16800.
price already came back to retesting the last high in the market and formed a double top pattern.
Price dropped 2k pips and broke the last major support area nearly at 15500.
After breakout from ascending channel and zone area, we may predict a retest to the breakout area, then we may have a big bearish movement.
If we use our fib tool we can see our golden zone is at the beginning of the pulish channel.
price failed to form HH after the last high in 22 NOV 21 at price 16800.
price already came back to retesting the last high in the market and formed a double top pattern.
Price dropped 2k pips and broke the last major support area nearly at 15500.
After breakout from ascending channel and zone area, we may predict a retest to the breakout area, then we may have a big bearish movement.
If we use our fib tool we can see our golden zone is at the beginning of the pulish channel.