NAS100 - D1 Bearish Order Block
Updated
Comment Ideas and/or any reasons why you would or wouldn't take this trade!
Was late to post this on Friday.
Going short on NAS100.
Setup:
Sell Limit @ 12563.58
S/L: 12682.50
T/P 1: 11925.23 [Profit/Loss = 3.89]
T/P 2: 11802.45 [Profit/Loss = 4.7]
Why?
- NAS100 broke market structure to make a new low - Start looking for Bearish opportunities
- Retraced back up past 0.79 & 0.759(OTEs) on Fib filling market imbalance left from previous sell
- Market imbalance left behind from previous buys (FVGs)
- Current momentum is Bearish
- Strong rejection from Bearish OB
- D1 Structure tends to be more reliable than lower timeframes
Why not?
- NAS100 has the potential to break bearish OB and create a new high
- Higher timeframes have larger stop-losses (Higher risk but also higher reward🧠)
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Remember, only risk up to 5% of your account per trade. I have a very small account of €200. I am risking ~€14 on this trade with the potential to lock in €71 profit - so I am risking more than normal by a slight margin BUT only because of how great the setup looks.
This material is for educational purposes ONLY.
Trade smart.
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Glossary:
OTE = Optimal Trade Entry (Most opportune place to enter a trade)
OB = Order Block (Where price is likely to make a reversal)
FVG = Fair Value Gap (Gaps left when only sellers/buyers were moving price down/up)
Was late to post this on Friday.
Going short on NAS100.
Setup:
Sell Limit @ 12563.58
S/L: 12682.50
T/P 1: 11925.23 [Profit/Loss = 3.89]
T/P 2: 11802.45 [Profit/Loss = 4.7]
Why?
- NAS100 broke market structure to make a new low - Start looking for Bearish opportunities
- Retraced back up past 0.79 & 0.759(OTEs) on Fib filling market imbalance left from previous sell
- Market imbalance left behind from previous buys (FVGs)
- Current momentum is Bearish
- Strong rejection from Bearish OB
- D1 Structure tends to be more reliable than lower timeframes
Why not?
- NAS100 has the potential to break bearish OB and create a new high
- Higher timeframes have larger stop-losses (Higher risk but also higher reward🧠)
--------------------------------------------------------------------------------------
Remember, only risk up to 5% of your account per trade. I have a very small account of €200. I am risking ~€14 on this trade with the potential to lock in €71 profit - so I am risking more than normal by a slight margin BUT only because of how great the setup looks.
This material is for educational purposes ONLY.
Trade smart.
--------------------------------------------------------------------------------------
Glossary:
OTE = Optimal Trade Entry (Most opportune place to enter a trade)
OB = Order Block (Where price is likely to make a reversal)
FVG = Fair Value Gap (Gaps left when only sellers/buyers were moving price down/up)
Comment
NAS100 is moving upwards slowly (time of day) - I believe this is a short-term move to fill market imbalance and/or to retest the Bearish OBComment
My prediction was correct this time, it almost completely filled imbalance before continuing down furtherComment
Price reached low of $12058.21 yesterday but has since retraced to a previous S/D zone from 9 - 11 May of this year. I considered closing at the swing low but decided instead to hold and I am waiting for the trade to play out. If price retraces back to out original selling price I will most likely sell again...Comment
FOMC pushed price back to original selling price, I have opened a second position with the same setup. Let's see!Trade closed: stop reached
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