We are short on AMAZON since Monday, with that said, we are also bearish on NASDAQ and all the necessary details of our trade idea are listed in the image and following text.
The first thing we want to express is a quote from Warren Buffet "What the wise do in the beginning, the fools do in the end" and there is a strong reason behind this quote...
Firstly, it is about what we see in the news... and as the good old saying from the sales pitch in the movie "Wolf of Wall Street" goes, when you see it in the news... its already too late.
We have been seeing Gold headlines and crazy predictions recently... yet we profited BIG on selling Gold this week, and the simple reason is that we focus on the charts, and not what we think. - In short, WE TRADE WHAT WE SEE!
The same goes for NASDAQ and tech stocks, the news hype is in full force, and we believe, based on price action that is, that it's time to profit on the sell-off that might just come.
On the other hand, we want to express the importance of FULLY understanding that trading is A GAME OF PROBABILITIES and NOT CERTANTIES. i.e. we have been wrong and we will be wrong... just make sure when you are wrong to be wrong small, so your losses can be manageable and not be catastrophic to your account.
Thats it from us for now... good luck trading!
KEY POINTS:
The first thing we want to express is a quote from Warren Buffet "What the wise do in the beginning, the fools do in the end" and there is a strong reason behind this quote...
Firstly, it is about what we see in the news... and as the good old saying from the sales pitch in the movie "Wolf of Wall Street" goes, when you see it in the news... its already too late.
We have been seeing Gold headlines and crazy predictions recently... yet we profited BIG on selling Gold this week, and the simple reason is that we focus on the charts, and not what we think. - In short, WE TRADE WHAT WE SEE!
The same goes for NASDAQ and tech stocks, the news hype is in full force, and we believe, based on price action that is, that it's time to profit on the sell-off that might just come.
On the other hand, we want to express the importance of FULLY understanding that trading is A GAME OF PROBABILITIES and NOT CERTANTIES. i.e. we have been wrong and we will be wrong... just make sure when you are wrong to be wrong small, so your losses can be manageable and not be catastrophic to your account.
Thats it from us for now... good luck trading!
KEY POINTS:
- We have a potential H&S at all time highs
Momentum is bearish based on the 5/20 EMA and Donchain Channels
We expect price to drop due to the news headlines
A strong bearish continuation is building