chartwatchers
Short

NASDAQ 100 Index - Short play to the cycle low

FX:NAS100   NASDAQ 100 index of US listed shares
1986 15 59
Due to my cycle count we will be heading down the DCL during the next 5-9 days.
At least we should test back the breakout at 4737 $.

Notice the 4hrs chart RSI divergence and MACD divergence.
I would suggest to use stops at this trade:
1. SL: 4820$.
2. Or you can use the blue trendline as a stop loss. If a significant close - price breaks above the blue trendline and close there - will be I will close the trade manually and post it here.

I think gold's yesterday night breakout is predicting a fall in stocks in the rest of this week.
Comment: It looks good. Seems we entered the perfect hourly candle.
One could set / move the stop to break even.
snapshot
Comment: Don't forget to use the "trendline stop"
snapshot
Comment: On the picture I've set it how I'm moving my stop now.
Comment: Taking profit on half of the position
Comment: Price is 4774.
Comment: Closing the other half of the position at 4794.
Trade closed manually
Thanks Arpi! :)
+1 Reply
Salut! I hope you don't mind my asking. On which theory is your cycle count based?
+1 Reply
I have my own cycle counting on every vehicle I trade.
Reply
You’re a freakin’ wizard!
+1 Reply
Maaaan, you are awesome, you seem to get every anticipation right, with this one and the gold ive made around 30% profit from following you ! Can't thank you enough, you also made me learn
+1 Reply
Would you use SQQQ to short the nasdaq 100 index?
Reply
I used QID (2x bear QQQ) on the first short call (a little under water now) and kind of doubling down with SQQQ today. Following Arpi's stops with alerts on NAS100 to do manual stops.
Reply
Bearbud bertcoin
Thank you, how do you know what the stop is when he says use the trend line?
Reply
Manually. Each day I set an alert on that day's trend line value on TradingView. If it hits the alert with momentum (and/or Arpi posts that he's bailing out), I'll manually close my QID and SQQQ positions.
Reply
Bearbud bertcoin
I guess I need to google how to use Trading View since I have no idea how to set an alert on the days trend line. Thanks again!
Reply
Never ceases to amaze me how the market works and just "tags" things (trend lines, moving averages, fib numbers, previous highs and lows). Tagged the trend line and retreated. Still holding short....
Reply
Bearbud bertcoin
Arpi hasn't commented on this trade in 6 days, are you still in it?
Reply
Still in. Moved nicely off the trend line. Finally just broke even on the QID and SQQQ. Target to get out is still if and when NAS100 gets to around 4740. I am carefully watching Arpi's other posts, especially today about current trends and may get out sooner if S&P reverses up before Arpi's targets.
Reply
Bearbud bertcoin
Thanks Bertcoin. Do you know why he closed the LABU trade? He originally said it was going to take off.
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I don't see how you weren't stopped out!
Reply
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