Nasdaq has been trading over its MA50 (1d) for almost 1 month, establishing it as the new support level. The long term pattern is a Channel Up and every time the price stayed that long above the MA50 (1d), is has already starting the new bullish wave and spend at least 3 months above it. The previous two buy waves grew by +48% and +49.90% respectively.
Trading Plan: 1. Buy on the current market price.
Targets: 1. 25500 (+48% from the Channel Up bottom).
Tips: 1. The MACD (1d) is symmetrically on the exact same level where the previous bullish waves have established their price actions above the MA50 (1d). This fully supports a long term rally from here.
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