Nasdaq100: False Breakout?
Sellers are gunning for a break below ~7010. Such a move triggers a new down trend on the 120-minute chart, targeting 6820 and 6812. More importantly, such a decline would bring prices well below the former "bullish" breakout level, thus constituting a false move/flush-high/false breakout or whatever you would like to label it. Such 'flushes' (my preferred name) are almost always followed up by a significant counter move as old buyers are heading for the exists.
Chances of such a scenario are certainly above average; various intermarket developments as well as divergence makes the recent 'new high' very likely to be a flush. We have been selling into strength for some time and continue to do so.
As setup for the 120-minute interval we suggest:
short-entry below 7010
target 1 @ 6920 (cover 40%)
target 2 @ 6812 (cover remaining)
Initial stop @ 7065
Chances of such a scenario are certainly above average; various intermarket developments as well as divergence makes the recent 'new high' very likely to be a flush. We have been selling into strength for some time and continue to do so.
As setup for the 120-minute interval we suggest:
short-entry below 7010
target 1 @ 6920 (cover 40%)
target 2 @ 6812 (cover remaining)
Initial stop @ 7065
Transaction en cours
Note
Stoploss lowered to break-even @ 7010 after hitting Target 1Note
"Fase breakout?" --> Yes!Nearing target 2.
Trade fermée: cible de profit atteinte
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.