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The stock price’s reaction when it comes into touch with the resistance level, the basic moving average, is the most significant feature of a Bearish U-Turn set-up. During intra-day trade, the preferred reaction occurs as the stock climbs to the resistance limit, then reverses and goes down a certain percentage of the day’s high-to-low scale.
Nasdaq 100 Futures Hit the First Target
Today, I want to follow up on the weekly idea I posted on my TradingView page on Oct. 27. At the time, the Nasdaq 100 (NQ) futures market had just bumped up against resistance at its short term down trend line. This was a known level of U-turn, so we were expecting the market to reverse …
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