NASDQ100 short bias

Short / Bearish Bias on NASDQ100.

Technical Analysis Explained:

1. Highest normalized price reversal point exceeded (this is the highest red “resistance” zone)
   
2. Price greater than all time high (22/11/2021)
   
3. Z score and Price bearish divergence (week as z score has remained neutral rather than print a lower low)
   
4. Price trading at approximately second standard deviation (20 day fixed rolling window forecast)
   

Here is a closer look at current price action.

Trade active:

I have changed my trade by breaking it down into two smaller short stop orders (as seen in the image below). My trade entry reasoning remains unchanged from above. By breaking the trade down into two smaller trades my initial bet on the down side move has been reduced, this helps me avoid reversals. The second trade entry is roughly 0.8% below the first trade TP to avoid volatile fake outs.

Trade closed: target reached:

FTR printed support zone which price action failed to brake so i exited the trade at approximately 2R, although i did not factor in CVOL, CVOL trend supports the buying pressure has increased.

Now waiting for second trade to hit