Nasdaq Potential Short
Updated
Hello Trades,
We are looking at nasdaq which is currently downtrending. We are currently watching price get close to the trend line and the 50% - 61.8% Fibonacci retracement levels denoted by the red square.
TP1: close 50% of position and move sl to entry
TP2: close 25% of remaining position and move sl to TP1
TP3: final tp for remaining 25% of the position.
I will be looking for a 1:5 Risk to Reward ration to ensure enough space for the stop loss.
We are looking at nasdaq which is currently downtrending. We are currently watching price get close to the trend line and the 50% - 61.8% Fibonacci retracement levels denoted by the red square.
TP1: close 50% of position and move sl to entry
TP2: close 25% of remaining position and move sl to TP1
TP3: final tp for remaining 25% of the position.
I will be looking for a 1:5 Risk to Reward ration to ensure enough space for the stop loss.
Trade active
We experienced a false break and price broke back into our downwards channel we executed the first trade but got stopped out. We executed on the 10PM SAT candle rejection again and currently we have taken 50% off the table and currently we are risk free.
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.