Hello, my first ever idea! A rough outline of my planned strategy over the next two weeks.
I'm expecting nasdaq to continue its decline, although with heavy resistance along the way, the bulls are going to fight for every step down so expect huge volatility and major spikes, especially in the first 2-3 days of each week. I've painted a broad price channel to accomodate for this fighting
By thursday they get tired again and we should make some downward progress
My hope with this setup is that we reach 13500 in about two weeks, maybe three
I'll be shorting spikes and closing once they get back to about the centre of the channel each time
This may be a conservative estimate, i've heard plenty of predictions that we'll go to 13k or below, but 13500 is my aim, after that we'll see
Big thanks to RealMacro for his guidance in the past week
I'm expecting nasdaq to continue its decline, although with heavy resistance along the way, the bulls are going to fight for every step down so expect huge volatility and major spikes, especially in the first 2-3 days of each week. I've painted a broad price channel to accomodate for this fighting
By thursday they get tired again and we should make some downward progress
My hope with this setup is that we reach 13500 in about two weeks, maybe three
I'll be shorting spikes and closing once they get back to about the centre of the channel each time
This may be a conservative estimate, i've heard plenty of predictions that we'll go to 13k or below, but 13500 is my aim, after that we'll see
Big thanks to RealMacro for his guidance in the past week
Trade closed manually:
although this idea went well in the end and did ultimately turn a profit, it also went very far outside my channel, so i'm gonna call this a loss. I've opened a version 2 with a less optimistic outlook
