NASDAQ – Trend Continuation Setup Toward Weekly Fibonacci Targets
H4 breakout breaks short-term structure; long setup remains valid while daily trend holds
Market Overview
The US100 is maintaining a clear bullish structure across the higher timeframes. While the daily shows a short-term countertrend consolidation, the broader trend—anchored by the weekly—remains intact. Current price action on H4 suggests the end of the pullback phase, with renewed upside potential now activated. Long setups are valid above key daily and weekly pivots, with Fibonacci extensions offering a roadmap for expansion.
Weekly Structure
The weekly chart confirms the broader bullish trend. After reclaiming the prior structural highs, the market entered a consolidation phase, holding above the weekly pivot zone (20,896.2-21,325.5). As long as this zone remains intact, the weekly structure supports a continuation scenario targeting the upper Fibonacci extension zones.
Daily Chart
On the daily, a countertrend emerged after a push toward the all-time high (ATH) at 22,239.3. Price is currently holding above a cluster of key levels:
Daily pivot at 21,473.5
Weekly pivot zone at 21,325.5–20,896.2
The corrective nature of the pullback and the respect shown to these pivots signal continuation potential. Fibonacci projection levels on this timeframe align with:
22,800 (Target Fib 113.2%)
23,250 (Target Fib 123.6%)
23,950 (Target Fib 138.2%)
These serve as upper boundaries for the medium-to-long term continuation structure.
H4 Timeframe
The H4 chart provides the clearest tactical confirmation. A descending countertrend line has been cleanly broken, and price has reclaimed all recent breakdown levels.
This validates a shift back into the expansion phase, reinforced by a strong impulsive move and bullish structure. The target Fibonacci cluster starts at 21,900, with levels extending through 22,239.3 ATH, then to:
22,400 (H4 Target Fib 138.2%)
22,800–23,600 (longer-term projections aligned with the daily/weekly)
Key Supports:
H4 pivot at 21,520.8
Daily pivot at 21,473.5
Weekly breakout at 21,325.5
Key Trigger Levels
Long Trigger: Break of any countertrend on H1 and below
Short Trigger: May for after the daily trend breaks below the daily pivot (21,473.5)
Target Zones
H4 Target Fibonacci: 21,900–22,400
Weekly Target Fibonacci: 23,600–24,400
ATH: 22,239.3
Validity
The idea remains valid as long as price holds above the daily pivot at 21,473.5. A clean breakdown through 20,896.2 (weekly support) would shift the structure into deeper correction territory.
Conclusion
The multi-timeframe structure supports a bullish continuation. H4 has already transitioned out of correction with a break of the countertrend line and reclaim of key pivot levels. Long setups are technically valid above the daily pivot, with the next leg targeting weekly Fibonacci extensions. Daily structure must remain intact to uphold this scenario.
How are you interpreting this structure? Share your view in the comments—let’s compare frameworks.