Nasdaq Trade Idea (Fri, Nov 15)

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Welcome to today’s edition of The Daily Trader! In this post, we will give a detailed outlook on the Nasdaq to help you confidently navigate the market. Along with this setup, we’ll share key levels to watch and insights to keep you sharp in today’s session. Whether you’re an experienced trader or just getting started, our analysis is here to help you stay informed and ready to capitalize on every opportunity. Let’s dive in!

Nasdaq Futures - $NQ

The Nasdaq has broken below the previous month's high and the monthly VWAP, signaling potential bearish momentum. Additionally, it has breached the 0.382 Fibonacci retracement level at $20,831, further supporting a downside bias. The next key area of support lies at the 0.618 Fibonacci level at $20,517. For bullish setups, wait for a bounce and sustained hold above $20,517 as confirmation. For bearish trades, focus on a clean break and hold below this level to signal further downside potential.

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Right now, I’m feeling bearish about the market. This pullback from all-time highs suggests a potential shift, but I’m staying cautious; this market has shown resilience and could regain momentum if buyers step back in.

Feel free to use this analysis and levels provided as confluence with your own trading strategy and apply it to your setups. Utilize the levels I’ve provided to identify potential entry points and remember to manage risk appropriately in case of any unexpected reversals. Let’s stay patient and allow the market to present the right opportunities!

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We hope you enjoyed today’s analysis, packed with all the juicy insights you need to conquer the trading world! Stay tuned for more updates, analysis, and watchlists from The Daily Trader. Remember, the secret sauce to trading success is staying in the loop and making those savvy decisions. Thank you for being an awesome part of our community, and get ready for even more epic content coming your way soon. Until next time, trade on and stay awesome!