NASDAQ 100 Index - Short play to the cycle low
Due to my cycle count we will be heading down the DCL during the next 5-9 days.
At least we should test back the breakout at 4737 $.
Notice the 4hrs chart RSI divergence and MACD divergence.
I would suggest to use stops at this trade:
1. SL: 4820$.
2. Or you can use the blue trendline as a stop loss. If a significant close - price breaks above the blue trendline and close there - will be I will close the trade manually and post it here.
I think gold's yesterday night breakout is predicting a fall in stocks in the rest of this week.
At least we should test back the breakout at 4737 $.
Notice the 4hrs chart RSI divergence and MACD divergence.
I would suggest to use stops at this trade:
1. SL: 4820$.
2. Or you can use the blue trendline as a stop loss. If a significant close - price breaks above the blue trendline and close there - will be I will close the trade manually and post it here.
I think gold's yesterday night breakout is predicting a fall in stocks in the rest of this week.
Comment:
Don't forget to use the "trendline stop"
Comment:
On the picture I've set it how I'm moving my stop now.
Comment:
Taking profit on half of the position
Comment:
Price is 4774.
Comment:
Closing the other half of the position at 4794.
Trade closed manually
One could set / move the stop to break even.