Looking for opportunity to short NDX at 6580
Updated
Hi traders,
we are looking at the nice rally of the NDX but we are generally not on the bull side. The economy may establish a bear cycle and prices are likely to decline further.
Therefore we are looking for another short entry. We will watch the price level around 6580 as this is an important (fib-)level to test. The NDX can find resistance here and shorting at this level could be very profitable.
The other options is price breaks this area up. in this case we will take a small loss and look for new short opportunities at higher levels.
we are looking at the nice rally of the NDX but we are generally not on the bull side. The economy may establish a bear cycle and prices are likely to decline further.
Therefore we are looking for another short entry. We will watch the price level around 6580 as this is an important (fib-)level to test. The NDX can find resistance here and shorting at this level could be very profitable.
The other options is price breaks this area up. in this case we will take a small loss and look for new short opportunities at higher levels.
Note
obviously, I got stopped out with a loss. At that point in time I was not thinking about asset price inflation due to money printing which I think is the main narrative of why assets prices move up
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