NASDAQ Trading Alert: Technical Setup and NFP Impact Analysis
As we approach the upcoming non-farm payroll (NFP) report this Friday, there is a setup on the NASDAQ that’s worth noting. However, I won’t be taking any trades at the moment due to the potential impact of the NFP report on the market. Nonetheless, I’ll still provide some technical insights to keep you informed.
It’s worth keeping in mind that if the NFP beats expectations, this could potentially send the NASDAQ back to the downside. With that said, let’s take a closer look at the technical side of things.
Recently, the NASDAQ has broken a higher time frame trendline and created a continuation pattern. If we see clear price action and a reclamation of our “Key Zone,” there may be an opportunity for more upside. However, it’s essential to exercise caution as this is a risky setup.
It’s important to manage any trades carefully, especially given the potential market impact of the NFP report. By doing so, traders can mitigate potential losses and take advantage of any potential gains. So, good luck traders and stay vigilant! We hope this analysis helps you make informed decisions in your trading activities.
