Trade Plan:
Asset: Nasdaq 100 index
Position: Short sell
Entry Point: 12360
Stop Loss: As this is a short position, the stop loss should be above the entry point to limit the potential loss. Based on your risk tolerance and the volatility of the market, you can set the stop loss at a level that you're comfortable with. Let's say you set the stop loss at 12600, which is 2% above the entry point.
Leverage: 20x
Position Size: The position size will depend on your capital and risk management strategy. As a general rule of thumb, you should risk no more than 1-2% of your account balance on a single trade. For example, if your account balance is $10,000, you can risk up to $200 on this trade. With 20x leverage, you can open a position worth $4,000 ($200 * 20).
Targets: Your first target is at 12255, which corresponds to the level of previous support. Your second target is at Fibonacci retracement level 0.382, which corresponds to a price level of 12216. Your third target is at Fibonacci retracement level 0.5, which corresponds to a price level of 12110. Your final target is at Fibonacci retracement level 0.618, which corresponds to a price level of 11999.
Exit Strategy: Once the price hits each target, you can take some profits off the table and adjust your stop loss to breakeven or slightly below it. For example, if the price hits the first target at 12255, you can sell half of your position and adjust your stop loss to 12480 (entry point) for the remaining half. If the price hits the second target at 12216, you can sell another quarter of your position and adjust your stop loss to 12500 for the remaining quarter. Similarly, if the price hits the third target at 12110, you can sell the remaining quarter of your position and adjust your stop loss to 12300 for a potential continuation trade.
Note: This is just an example trade plan based on the information you provided, and it's not a financial advice. Please do your own research and analysis before making any investment decisions. Always use appropriate risk management strategies, including stop losses, to protect your capital.
Asset: Nasdaq 100 index
Position: Short sell
Entry Point: 12360
Stop Loss: As this is a short position, the stop loss should be above the entry point to limit the potential loss. Based on your risk tolerance and the volatility of the market, you can set the stop loss at a level that you're comfortable with. Let's say you set the stop loss at 12600, which is 2% above the entry point.
Leverage: 20x
Position Size: The position size will depend on your capital and risk management strategy. As a general rule of thumb, you should risk no more than 1-2% of your account balance on a single trade. For example, if your account balance is $10,000, you can risk up to $200 on this trade. With 20x leverage, you can open a position worth $4,000 ($200 * 20).
Targets: Your first target is at 12255, which corresponds to the level of previous support. Your second target is at Fibonacci retracement level 0.382, which corresponds to a price level of 12216. Your third target is at Fibonacci retracement level 0.5, which corresponds to a price level of 12110. Your final target is at Fibonacci retracement level 0.618, which corresponds to a price level of 11999.
Exit Strategy: Once the price hits each target, you can take some profits off the table and adjust your stop loss to breakeven or slightly below it. For example, if the price hits the first target at 12255, you can sell half of your position and adjust your stop loss to 12480 (entry point) for the remaining half. If the price hits the second target at 12216, you can sell another quarter of your position and adjust your stop loss to 12500 for the remaining quarter. Similarly, if the price hits the third target at 12110, you can sell the remaining quarter of your position and adjust your stop loss to 12300 for a potential continuation trade.
Note: This is just an example trade plan based on the information you provided, and it's not a financial advice. Please do your own research and analysis before making any investment decisions. Always use appropriate risk management strategies, including stop losses, to protect your capital.