Nasdaq hourly Dec,7,2020
Short term target for the small triangle is 12610 for today (showing in the box). While trend is still up as long as the green slope line is a live.
with first level of support 12466 the base of the triangle.
General notes about my charts:
I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines:
1- trending lines (green for up trend/ red for down trend)
2- horizontal lines ( those are levels that market will highly possible to respect them)
3- lines to show the pattern border.
the trending lines are more important than other lines. One of the noted information is usually market if breaks any level (horizontal line), it will go to the other line to test it. So, if you have the levels in your chart, you can expect the most likely move and so on.
with first level of support 12466 the base of the triangle.
General notes about my charts:
I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines:
1- trending lines (green for up trend/ red for down trend)
2- horizontal lines ( those are levels that market will highly possible to respect them)
3- lines to show the pattern border.
the trending lines are more important than other lines. One of the noted information is usually market if breaks any level (horizontal line), it will go to the other line to test it. So, if you have the levels in your chart, you can expect the most likely move and so on.
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