POST CPI : Nasdaq 100 holding on to gains ๐Ÿ“ˆ

The Olympus Academy
2022-12-14

Hello, good day traders! ๐Ÿ‘‹๐Ÿค™

I'm looking for a potential Buy ๐Ÿ“ˆ setup for $NASDAQ 100(NDX)$ $NDX, with both fundamental and technical indicators to back it up.

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๐Ÿ“ฐFundamentally,

  • Today's Stock Market: Indices Hold Gains Following CPI Data
  • Markets rose at the open on Tuesday after the latest CPI data showed that inflation had slowed.
  • The latest Consumer Price Inflation (CPI) data from the United States Bureau of Labor Statistics showed that inflation slowed to 0.1% on a seasonally adjusted basis in November, lower than estimates of 0.3% after a 0.4% increase in October. Overall, the CPI index for all items rose 7.1% in the previous year, exceeding expectations of 7.3%.


๐Ÿค”On the technical front,

1.) Looking at the H4 chart with price above the Ichimoku cloud it indicates a bullish market, I am looking for a buy entry at 11710.26, where the 38.2% Fibonacci line is.

2.) Stop loss will be at 11431.96, where the previous swing low is.

3.) I intend to take a profit at 12415.15, slightly below where the 61.8% Golden Fibonacci ratio is located.

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Trade Entry recommendations:

Buy Entry: 11710.26๐Ÿ“ˆ

Take Profit: 12415.15 ๐Ÿ’ฒ

Stop Loss: 11431.96โŒ

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Other tickers to recommend:

For 5x Long Leverage: $Nasdaq 5xLongSG240425A(CZFW.SI)$ 

For 5x Short Leverage: $Nasdaq 5xShortSG240425(CXEW.SI)$ 

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