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US Nas 100
Short

SHORT OPPORTUNITY ON NASDAQ (Rejection from 6 mth trendline)!

By wendys_trde
Updated
Bulls have been taking over the bears for the past few sessions, NASDAQ has got a nice rejection from a 6 months trendline. There may be an opportunity for an exhaustion/correction phase following a huge move upwards. This is a LOTTO trade and risk should be tight on this trade, in case the bulls take over again. It may retrace anywhere around the 50% level of the move on the upside.
Note
If we see a trendline break on the upside, I am anticipating a huge move on the upside.
Note
Taking profits over here, it has retraced back more than 50% and has found strong support at 61.8% level. Hope you guys caught it!
Chart PatternsDOWdowjonesNASNASDAQ 100 CFDUS NAS 100nasdaqnasdaq100NASDAQ 100 E-MINI FUTURESS&P 500 (SPX500)Trend Analysis
wendys_trde

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