Shorting NasdaqPublished On: 20 November 2023, 9:15 PM | Annabelle Tang, Dealer
Trade Set Up:
- From the Chart above, we see 3 support and resistance points where shorting is likely to grant profits approximately 200 points.
- Therefore, we recommend shorting Nasdaq at around 15,325 and take profit at 15,127.
- In this case, stop loss should be placed based on the trader’s own risk appetite as no other viable support/resistance is seen as traders can view in the chart below (Time Period: Aug to Sept):
- The same support/resistance (scale set to fixed on MT5) used, has similarly shown the downwards movement of prices.