Nsadaq looks to of finally put in a short term top here for some profit taking a swing shorts if this wedge break holds. We can see higher prices being made with lower MACDH and RSI on the hourly charts good for some swing trading.
Stop at 13700 on the US100 chart. There are some levels of support so we have to be careful and take swing trades within 5 and 15 min charts on the way down.
I am of the opinion though the tech is way overbought and we might see some rotation into industrials as we come out of lockdown. So we may see a daily top short term.
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Stop at 13700 on the US100 chart. There are some levels of support so we have to be careful and take swing trades within 5 and 15 min charts on the way down.
I am of the opinion though the tech is way overbought and we might see some rotation into industrials as we come out of lockdown. So we may see a daily top short term.
Press the follow tab above and to receive updates to this trade as we go along.
Comment:
will we see a head and shoulders take this a lot lower?
Trade closed manually:
I have closed this trade out when the MACDH made a hourly tick upwards, seemed all day like the dow and s and p was driving things and tech was being dragged along. This may still sell off but id rather another signal comes. The range between the top and support is too tight until one party wins
Trade active:
I re-enterd my short again early with this morning with the MACDH downtick again
Trade closed manually:
Closed 50% of way to stop loss, huge momentum coming in and I don't want to get hit
About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.
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