A classic break and retest entry. Following a long uptrend, Nas100 created a third touch on the resisting trendline with a bearish flag (indicating readiness to break the strong supporting trendline and go for sells). The price recently broke the uptrending supporting trendline as expected from the bearish flag signal, we now await a retest of that trendline (to turn into resistance trendline) and go short as indicated.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.