NASDAQ futures trading setup

#NASDAQ #NQ1! #Tommy ****
- Here is NASDAQ daily. It’s been recently forming a rising wedge making higher highs.
- This means that if it breaks the wedge below (or bottom of the green channel) we can expect some correction phase.
- A significant bearish divergence signal at daily RSI has not been shown yet. The RSI resistances are 73.6 and 80.5.
- Most probable and reliable signal of correction would be when the daily RSI breaks the blue channel below.
- I am currently considering major resistances at 9550.00~9700.00 and if we get to see higher high, 9885.00~10005.00 would be an adequate resistance area to consider.
- Personally, I think the best trading strategies at this point is to wait until the NASDAQ breaks the bottom of the wedge and enter short or enter short at the resistance areas I have mentioned.
- Some major supports are expected at 8940.00~9040.00 which is the bottom of the red channel, and at 8730.00~8830.00.