As you can see on the chart, NASDAQ is currently in a weekly down trend and approaching the most recent lower high.
This is not a detailed analysis and is not hard to execute, rather, just a good risk:reward shorting opportunity in which the trend is my friend.
Please note, if this downtrend is broken, which is hard to anticipate at the moment, then there will be plenty of opportnities to go long and make that loss back.
I am the Unemotional, Devotional Trader society doesn't deserve, but needs!
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As you can see, we got very close to our previous weekly high before seeing a large amount of selling volume enter the market as we anticipated with this trade.
We are now in the green zone!! As any professional trader will know, it is very hard to nail tops and bottoms and therefore anticipating swings tends to be a more favourable strategy. When you add effective risk management strategies to this then you have yourself a solid trading plan for swing trading NASDAQ or other charts.
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Congratulations to anyone who got into a similar position. These trades are what gives us the insurance to lose on a bunch of other trades and remain in profit.