Over here, I present a short case for Nasdaq (and S&P500 by default since their correlations are high). The main reasons are:
1. Completion of 5 waves structure both on the high degree and on low degree, as shown in the chart.
2. Fibonacci measurement where wave 1 = wave 5.
The stop of this idea is to be placed slightly above the high, in this case, I placed it at around 23320. The take profit target is at the bottom of primary wave 4, around 20685.
Take note that this is a positional short, meaning the strategy is to short and hold and periodically adjust your stop loss based on unfolding on wave structure. Sizing is based on your risk tolerance.
Good luck!
1. Completion of 5 waves structure both on the high degree and on low degree, as shown in the chart.
2. Fibonacci measurement where wave 1 = wave 5.
The stop of this idea is to be placed slightly above the high, in this case, I placed it at around 23320. The take profit target is at the bottom of primary wave 4, around 20685.
Take note that this is a positional short, meaning the strategy is to short and hold and periodically adjust your stop loss based on unfolding on wave structure. Sizing is based on your risk tolerance.
Good luck!
עסקה סגורה: הגיע לסטופ
Was stopped out.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.