Get ready for Monday's Nasdaq 25.01.20

Hello, this is Greedy All-Day.
Today’s analysis focuses on the NASDAQ.

NASDAQ Daily Chart Analysis
Chart:

On the daily chart, the NASDAQ shows a breakout above the short-term corrective trendline, signaling a potential trend reversal.

Key Developments:

The price has broken above the 20 EMA on the daily chart.
It also rebounded before breaking below the Ichimoku Cloud, hinting at a potential return to new all-time highs.

Support and Resistance:

Support: The 20 EMA, currently around 21390, serves as short-term support.
Resistance: The chart suggests that significant upside remains open, with fewer immediate barriers overhead.

Current Pattern and Resistance
Chart:

The NASDAQ is currently near its only remaining resistance trendline, created between December 17–18, 2024 (orange box).

Key Points:

Beyond this trendline, there are no further descending resistance trendlines.
Resistance will then come from horizontal supply zones or historical highs.

Breakout Potential:

If the price breaks the green box resistance zone, the next key resistance is one of the two white box zones.
A breakout beyond the white box zones could pave the way for new all-time highs.

Today’s Buy Strategy
Chart:

Entry Trigger:

Breakout above both the remaining resistance trendline and the recent high at 21682.5.
Target Levels: Horizontal resistance levels (marked on the chart).

Rationale:

A breakout above the long-term descending resistance trendline, combined with a breakout above the previous high, would likely lead to entry into the blue box supply zone on the left.
This would increase the likelihood of a continuation toward higher levels, fueled by the supply zone dynamics.

Today’s Sell Strategy
Chart:

Entry Trigger:

Breakdown below the orange ascending trendline and a break below 21481.
Target Levels: Horizontal support levels (marked on the chart).

Rationale:

A break below the ascending trendline would indicate weakening momentum.
If a pennant-like pattern forms and the price breaks below the starting zone of the pattern, it would signal a high likelihood of a trend reversal.
The green box highlights the potential breakdown area.

Additional Note:

If the price consolidates and the ascending trendline is broken above 21481, adjust the target to 21481 as the maximum downside level.

Conclusion

The NASDAQ is at a critical juncture, with potential for both significant upside and downside moves:

For Buyers: Watch for a breakout above 21682.5 for potential continuation into the supply zone and beyond.
For Sellers: Monitor for a break below the ascending trendline and 21481 for potential downside momentum.

Stay cautious, and trade strategically based on key levels. 🚀