Vladimir Ribakov analyzes NASDAQ technicals on March 2, 2022. He sees short-term bullish signals but warns of a strong resistance zone where the rally could stall. Wave theory suggests a corrective phase may limit gains before a bearish setup emerges near high-volume resistance.
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Hey guys, how are you? Vladimir here from Traders Academy Club, and in this video, my NASDAQ technical analysis and price prediction, my forecast. And it's a follow-up, uh, video to the video I published in the weekly forecast. So there are a lot of interesting things going on. Let's talk about them all. Uh, but before I do that, if you are new to this channel, welcome to our amazing community. Please subscribe to the channel with the subscribe button below the video. And also, I invite you to join us in our trading family, the Traders Academy Club, where you will enjoy from a full VIP price action course, real-time trading education, and real-time trading ideas our like-minded trading community, and you will see why we are ranked so high in the industry for so many years. Very important part I want to focus on is the real-time education, not only when and how and why I enter my trading opportunities the way I do, but also management. Why do I cut losses early? How do I do proper money management even when the market is tricky? This is a real art of trading. And now let's talk about the chart. So what do we have on the NASDAQ? As I said before, this is a follow-up to the weekly forecast. If you missed the weekly forecast, please make sure to watch it. You can find it in the channel or right now on the right top corner of this video you would find a direct link. You would see my full analysis and explanation behind the NASDAQ. As I explained in the video, after making the flip here and create Higher highs on the chart, higher highs on the MACD indicator. RSI was pushing up as well. I believe that after pulling back down to the lows, as the lows on the go, we should be seeing the Nasdaq continuing upside on the short term. As we can see so far, Nasdaq does push forward. But here is the thing: we start to see a slowdown, potential slowdown building up. Okay, on the histogram we can see the highs getting lazier slowly, and we can clearly see the moving average is slowing down as well. In terms of the highs, we have a very important resistance area in this zone, classical rejection area between these 2 swing highs, and a lot of volume from the daily and the weekly. As you can see, a lot of volume based on the volume profile indicator I use here. Okay, this could be a strong rejection area. So if the price manages to climb towards this zone, I believe it would be a great area to consider and do some management. Because I want to remind, uh, based on the longer-term analysis, I believe this is just a first leg of the next, uh, corrective phase we are likely going to experience. And if we take a look on the daily chart, this pretty much supports the weekly view by making the waves. This is the first wave down, correction, second wave down, correction, third wave down. Okay, so yep, there is a good chance we're gonna climb slightly, slightly, slightly higher. But again, look The volumes that we are heading towards. Look at that, okay? This huge cloud of volume and transactions area here. A lot of swing highs on the way. Swing high here, swing high here, and here, and here. Lots, lots, lots, lots, lots of rejection area. So I believe with a slow, slow, slow, slow, slow, slow run towards this zone, we should be Uh, ending with this beautiful rally that we could enjoy from. And again, if you missed the whole analysis behind this bullish view, please take a look on the weekly forecast and you would see exactly, uh, what and why. And from that area, the mentioned area before— let's go back daily, it will be clearer— see here, from that area that I mentioned before, I believe we should be seeing our next bearish opportunity building up. So this is how I see the play out with the NASDAQ. Let me know what do you think about it, how do you see the NASDAQ, and please share, uh, in the comment section, uh, what's your view. Also, if you enjoyed this video, please hit the like button. Your support is very, very much appreciated, and thank you very much in advance. Uh, that's it for this video. Once again, welcome to our trading family, Traders Academy Club. You can join us with the link below the video in the description or in the pinned comment and enjoy the best of the real-time trading education we have to offer. If you have any questions or any other instruments you would like me to go over in my next videos, or maybe the weekly forecast, please write it down in the comments and I will see if I have something interesting that I might share with you, I will. So thanks for your time once again. I wish you all the best and see you soon with more.
