NASDAQ: Potential Bearish Reversal - Short Setup

14 Nis 2024

Thesis:

• Geopolitical uncertainty (war) may trigger risk-off sentiment.
  
• Sideways price action suggests distribution pattern forming.
  
• Bearish divergence on higher timeframes indicates weakening momentum.
  
• ABCD pattern supports a potential reversal from the distribution zone.
  

Entry:

• Short below the distribution support level (yellow rectangle on your chart).
  

Stop Loss:

• Above the distribution resistance level (yellow rectangle on your chart).
  

Target:

• Open to interpretation based on your risk-reward profile, but consider key support levels below.
  

Risk Management:

• Clearly define your risk tolerance and position size before entering the trade.
  

Notes:

• This is a swing trade idea, so a longer time horizon may be required.
  
• Keep an eye on news and economic data releases that could impact market sentiment.
  
• Manage your trade actively and adjust your stops as needed.
  

20 Nis 2024

İşlem aktif

NAS 4.5 Down as per the Idea!!

Keep riding and trailing along!!