NASDAQ 100 trade idea
The NAS100 completed formation of a bearish flag pattern on the hourly chart then continued on to confirm a downward move by breaking out of the channel's support trendline. Price respected the 7400.0 level and retraced back to the broken trendline so this should give us a better entry and tighter stop loss. The flagpole suggests that a move down to the 7000.0 level can be expected.
Both trades from last week are floating around breakeven so more positions can be added when the market opens as long as risk is managed properly.
Both trades from last week are floating around breakeven so more positions can be added when the market opens as long as risk is managed properly.
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