NASDAQ INDEX SHORT IDEA (SHORT - MID TERM)
Idea: Short around 13350 - 13450 range (RR Ratio 3+)
Reason: Tested key resistance 13370, 1h 2h 4h daily candle shows potential signs of retracement
Additional indicators used to support the case: Upward channel, RSI heavily over, Awesome Oscillator in 1h 2h 4h signals an upcoming correction
TP: Based on key resistance/ support level
SL: Above next resistance/ support level 13550
Key targets (Short-mid term): 13220, 13100, 12990, 12870, 12680, 12550
Reason: Tested key resistance 13370, 1h 2h 4h daily candle shows potential signs of retracement
Additional indicators used to support the case: Upward channel, RSI heavily over, Awesome Oscillator in 1h 2h 4h signals an upcoming correction
TP: Based on key resistance/ support level
SL: Above next resistance/ support level 13550
Key targets (Short-mid term): 13220, 13100, 12990, 12870, 12680, 12550
Note
Update: First wave of sells hit 1st target range 13220, starting second waves from above 13420Trade closed: target reached
Update: 2nd wave of sells closed at breakeven profit from 13420, new entry to look out for is 13600-13800
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.