This is similar to the S&P500 short idea. In fact, they complement each other. While S&P500 has breached the top trendline, Nasdaq hits the trendline.
Also something different from S&P500 is that the Nasdaq correction unfolds is 5 waves instead of 3 in S&P500.
Place the stop loss where I indicated and you should be fine to take one a positional short.
Good luck!
Also something different from S&P500 is that the Nasdaq correction unfolds is 5 waves instead of 3 in S&P500.
Place the stop loss where I indicated and you should be fine to take one a positional short.
Good luck!
Trade active
trade active. Stop loss 100 points above.Trade closed: stop reached
Note
Remember to adjust your stop when market goes in your favour.
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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.
Related publications
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.