Nasdaq Trade Idea (Tue, Dec 17)

🌟 Rise and Shine, Traders! 🌟

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!

The Nasdaq is on FIRE 🔥

The Nasdaq continues to demonstrate strong momentum, presenting traders with strategic opportunities in the current market environment.

🎯 Levels That Matter

Resistance levels: A critical resistance point is $22,152 (Previous day High). A decisive break above this level could potentially trigger movement towards $22,254.

Support Zones:

• $22,008: Today’s Pivot Point (bonus: it's in confluence with the weekly VWAP)

• $21,908: Previous week’s high. Could we see resistance turned into support? I guess we’ll find out!

Trading Tip: Ride the Wave 🏄‍♀️

The trend is your friend! With this bullish momentum, we're all about those dip-buying opportunities.

I want to invite you to join us at Block Bites, our daily newsletter about everything crypto.

There is so much crypto news in the world that can’t be trusted. It seems like everything you read about crypto is someone trying to convince you it's the greatest thing ever or that you should run away from it (and toward their favorite scheme).

Block Bites is an easy-to-digest, once-per-week newsletter that will give you the no BS view of crypto.

The confluence of technical levels and anticipated monetary policy shifts creates an intriguing trading landscape. The potential for a breakout above $22,152, coupled with solid support levels, provides a structured framework for strategic market participation.

Key considerations include:

• Monitoring the $22,152 resistance level

• Watching for potential breakout or reversal signals

• Maintaining flexible positioning ahead of the FOMC meeting tomorrow.

Traders should prepare for potential volatility while remaining aligned with the current bullish trend.

Fear and Greed Index

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! 🐂