Nasdaq Trade Opportunity: Closing The Gap

Published On: 2 February 2024, 5:20 PM | Annabelle Tang, Dealer

Key Entry Price Pivot(s)

17470.33

Recommended Trade

Short at 17470.33

Stop Loss at 17520

Take Profit at 17372

Remarks

Looking at the 15 minutes chart of Nasdaq, we can see two very distinct gaps has yet to close even after two days. As a result, we recommend traders to short and either take profit at 17372 (for more conservative/risk averse traders) or employ a trailing take profit method.

For traders who prefer the latter, the methodology can be to first take a partial profit at 17372 (e.g. 50%), then another take profit at 15352 (e.g. 30%) and let the remaining portion of tp continue to run (if a continuous bearish trend is present), while taking note to take profit again at 15352/17372 in case of reversion back to bullish.