Driven by the Nasdaq breakout on Friday, the daily squeezes of both, BIDU and the NDX have fired long. In this move, BIDU has already reached a first target, the 127.2% Fib-extension at $167.05, which now adds to the overhead resistance of the April 25 swing high at $167.36. A small retracement on Tuesday possibly with an additional squeeze in the 30 min chart would be nice to find a good entry point for the long side.
What makes this setup so attractive is that there is lots of "squeeze-fuel" left in the trade, with a 7-9 bars expected move off the daily chart, and a weekly squeeze that hasn't even fired yet. A good time to turn on the squeeze thruster ...
BIDU
NDX
No comments:
Post a Comment