Top 5 Weekly Trade Ideas #1 - NQ Short
NQ looks like it wants to test ATH soon and there's a few other reasons it may reject from the area. Trendline resistance from July, in addition to supply near ATH. We also have a shorter term ascending wedge from August that could lead to more downside if it breaks.
For now, remaining bullish and looking for a potential pullback if it taps the trendline or supply above. If we get the rejection and trend break to the downside, I think it still needs to break below 20k before it starts to get really bearish. A break of the trendline above and ATH is obviously bullish, would be looking for long opportunities on dips if that happens.
For now, remaining bullish and looking for a potential pullback if it taps the trendline or supply above. If we get the rejection and trend break to the downside, I think it still needs to break below 20k before it starts to get really bearish. A break of the trendline above and ATH is obviously bullish, would be looking for long opportunities on dips if that happens.
AP Academy Beta Registration Open:
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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