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

  • 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.