NASDAQ is at daily and h4 resistance level, priced at 13200, where are looking to a counter trend short. The take profit would be slightly shorter than our average move as the trend is still bullish and this is a risky counter trend trade.

The ascending trendline is slanted upwards, remains untouched and not retested. We can only use this trendline as a take profit target.

There is no retracement region in this particular setup.

EMA 50 is still bullish and the market continues to stay bullish till the EMA 50 is above the price action. We can take the retest as the profit target on this pair.

RSI is at 68. It needs to dwell into the over bought region, get exhausted, and form a bearish divergence at the level in order to continue moving down, aligned with the chart technicals.

Temporary shorts on NASDAQ

Apr 28 2023

Stop Loss -0.39%

Holding time 1hr

13199.68

Entry price

13251.18

Stop loss price