On February 18 2024 I posted on social media @AidanFx , the Nas100 (Nasdaq) sell setup. Below I will explain the reasons why I entered the SELL/SHORT trade.
Sell Trade Setup
1. Price has entered and respected supply zones signalling a bearish bias. (Gray boxes)
2. Watch for price and RSI indicator divergence to form in the FVG/Fair Value Gap/Dark Gray box. (Purple line)
3. Wait for price to pullback to the FVG/Fair Value Gap. (Dark Gray box)
4. Wait for price to pullback higher to the SELL level. (Green line)
NAS100 15 Minute Chart February 18 2024
NAS100 15 Minute Chart February 20 2024
Entered the SELL trade at 17742 with stop loss at 17842. NAS100 moves lower to the proposed blue line target level and hits the 1:3RR Target at 17442 where I closed the trade for a +3% gain (Risking 1% on every trade).
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the NAS100 move lower.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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