Nasdaq trading opportunities off the higher timeframe charts may appear this week in the markets.
Nasdaq Trading Opportunities
The higher timeframes (weekly and monthly) are both indicating a potential retracement to the downside. However, prior to this occurring, the daily should retrace up to the ATR and it should offer resistance for further increases in price, at the moment.
Additionally, with no market reports to fuel the market, and since summertime is upon us, the market may simply stall allowing the Stochastics to return to normal. Reading price action and the Stochastics for signs of divergence will reveal whether the daily ATR will offer resistance, and price will continue down.
Utilizing both daily and weekly binary options would be ideal for this week’s trading sessions.