No brainer trade on NASDAQ. 1W chart
Updated
NASDAQ looks very bad right now. Very nice opportunity to short the market.
Reasons
Strategy
R/R: 2.7 or 3.69
Entry: around 98.66
Stop loss: 106.18
Target 1: 78.05
Target 2: 70.79
Markets look pretty bad in my opinion and we MIGHT be due for a recession or a crash. Possibly a good time to take cash out stocks until we broke above all-time highs and found support there. Please take a look at my SP500 idea as well.
Reasons
- Second all-time high resistance retest.
- Stops taken above resistance.
- Bearish RSI divergence on 1W chart.
- Beautiful R/R trading opportunity.
Strategy
R/R: 2.7 or 3.69
Entry: around 98.66
Stop loss: 106.18
Target 1: 78.05
Target 2: 70.79
Markets look pretty bad in my opinion and we MIGHT be due for a recession or a crash. Possibly a good time to take cash out stocks until we broke above all-time highs and found support there. Please take a look at my SP500 idea as well.
Order cancelled
Closed at break even. Don't like the rejection and might short higher.
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