Since Nasdaq sold off, we are now seeing a pullback to an area between 50% and 61.8% on the Fibonacci, the same area is a previous support area, that should now turn into resistance, and that is where price will also meet the H1 50MA. I see that area as a very important area for price to reverse so if you wish to scale in or enter sells, I'd suggest you do it there (DISCLAIMER: This is merely an idea and not trading advice at all, trading involves high risk and you may lose your money, I shall not be held accountable for any money lost in your account).
Worse case scenario is price not reaching the area at all and start selling off again, or price goes above the 61.8% and aims for an area between 78.6% and 100%, correcting the price imbalance it left yesterday, then start selling from there. But as long as price doesn't go beyond yesterday's high we still have a downtrend to around 12800 more or less.
Worse case scenario is price not reaching the area at all and start selling off again, or price goes above the 61.8% and aims for an area between 78.6% and 100%, correcting the price imbalance it left yesterday, then start selling from there. But as long as price doesn't go beyond yesterday's high we still have a downtrend to around 12800 more or less.
Trade closed manually:
Positions were opened, held a bit of losses, even forced me to move my SL to 13700, closed profits manually since there was little momentum going downwards but Im currently looking for a new entry might publish if I see one. Look out for fundamentals as well