Short potential in NAS 100 looks promising!

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Description of trade

As we very clearly identify a HEAD AND SHOULDER pattern in 1hr TF and 4TF , there is a high probability of pair to reverse , as we see constantly with this chart pattern .

Price if retests on the neckline after 1330 UK TIME ( MAJOR RED NEWS TIME ) , we could potentially look for a short trade with good SL and lot size in line with your account size.

There are two ways I will be looking to trade this pair today during session (NEW YORK )

A MEDIUM RISK TRADE:

I will look to place a sell - limit on the current neckline of the pattern , with my Stop loss being on top of the right shoulder , as my stop loss will have lot of room, my lot size will be smaller to manage my risk accordingly.

A HIGH RISK TO REWARD TRADE

*Second way foe me to enter this trade would be after 1330 high news today , to trade along with market structure i normally trade , i.e. seeing fractal structure , liquidity grab and so on , this will however have small stop loss but bigger lot size . This will be entered on 15TF or 30 min TF .

Notes : This are the probabilities for today , if we do not see the expected footprint from the market , remember there's a always a next day to trade.

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Đóng lệnh: dừng lỗ

TRADE above the head and shoulder pattern seen on 4hr , so we can see the CHOCH in the market , a dynamic assessment of the pair was done , we could have entered after breaking the high of the head and shoulder pattern on the fractal area . lets see how the market plays in coming days to see other potential trades .

Part of the game.