Short potential in NAS 100 looks promising!
Description of trade
As we very clearly identify a HEAD AND SHOULDER pattern in 1hr TF and 4TF , there is a high probability of pair to reverse , as we see constantly with this chart pattern .
Price if retests on the neckline after 1330 UK TIME ( MAJOR RED NEWS TIME ) , we could potentially look for a short trade with good SL and lot size in line with your account size.
There are two ways I will be looking to trade this pair today during session (NEW YORK )
A MEDIUM RISK TRADE:
I will look to place a sell - limit on the current neckline of the pattern , with my Stop loss being on top of the right shoulder , as my stop loss will have lot of room, my lot size will be smaller to manage my risk accordingly.
A HIGH RISK TO REWARD TRADE
Second way foe me to enter this trade would be after 1330 high news today , to trade along with market structure i normally trade , i.e. seeing fractal structure , liquidity grab and so on , this will however have small stop loss but bigger lot size . This will be entered on 15TF or 30 min TF .
Notes : This are the probabilities for today , if we do not see the expected footprint from the market , remember there's a always a next day to trade.
