US 100 Cash CFDShort
Looking to sell NASDAQ
The Nasdaq has been moving in a very strong uptrend for most of the year, but it looks like we are starting to get some bearish signals as price has not only started to make lower lows and highs, but we have also broken out of one of our dynamic levels of support.
Price has been moving impulsively towards the downside since then, thus this seems to indicate to us that we are starting to see a change in trend.
I will be entering a sell trade in the coming hours as soon as price gives us a lower high by rejecting our descending channels resistance.
All sell trades will be invalidated if price crosses above the major swing high at 15283.99. This is a long-term swing trade, so patience is key. Our first target will be the base point of the trendline/fan at 12961.21.
TP -12961.21
Invalidation - 15283.99
Price has been moving impulsively towards the downside since then, thus this seems to indicate to us that we are starting to see a change in trend.
I will be entering a sell trade in the coming hours as soon as price gives us a lower high by rejecting our descending channels resistance.
All sell trades will be invalidated if price crosses above the major swing high at 15283.99. This is a long-term swing trade, so patience is key. Our first target will be the base point of the trendline/fan at 12961.21.
TP -12961.21
Invalidation - 15283.99
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