NASDAQ weekly Projections

The Setup with Entry at 30915 and SL at 3065 has been invalidated

The Setup with Entry at 30915 and SL at 3065 has been invalidated

NAS100 trade setup
I took a Sell on Nas 100
Entry:30782
SL:30910
Reason: Price invalidated the intraday- channel and dropped down to the upper week high with a possibility of breaking below it for sell continuations.

NAS100 trade setup
I took a Sell on Nas 100
Entry:30782
SL:30910
Reason: Price invalidated the intraday- channel and dropped down to the upper week high with a possibility of breaking below it for sell continuations.

I closed out on the position I entered with 30781 as my exit price.
Reason: I reanalyzed the short setup and I spotted price is making a retest of my entry level (30782) as a Support, with potential of creating a 1hr double bottom at the zone invalidating the sell idea.

I closed out on the position I entered with 30781 as my exit price.
Reason: I reanalyzed the short setup and I spotted price is making a retest of my entry level (30782) as a Support, with potential of creating a 1hr double bottom at the zone invalidating the sell idea.

The trend support of the intraday channel that was invalidated, has not been retested as a resistance yet, and that also adds to confirm my sell entry at 30782, and SL-30910 is pre-mature.
I'll have to wait for price to fully form the short trade setup, before execution.

There's higher possibility of price pushing up to my SL level as its entry and then selling from there.

Then you will have to wait for the retest and rejection of that resistance zone

That was a good observation, that level you spotted is actually a neck support for price, price can reverse or break below it any of that can happen, closing out was the best decision

That's true; And price respected the zone as a support, resulting in buys.
I'm watching out for price reaction at 30922 (last week's high) if price will give a bearish confirmation to go short with entry (30913) placing my SL at 30964

Yes, I'm waiting.
Price is heading back for the retest of the trendline as a resistance and this confluences with last week's high price region at 30913 price level.
I'll be watching that price level (30913) for Entry confirmation to go short, with my protective stop placed at 30964, a few pips above last week's high.

The trend support of the intraday channel that was invalidated, has not been retested as a resistance yet, and that also adds to confirm my sell entry at 30782, and SL-30910 is pre-mature.
I'll have to wait for price to fully form the short trade setup, before execution.

There's higher possibility of price pushing up to my SL level as its entry and then selling from there.

I've spotted another confluence tool, to add in building up my convictions to go short on NAS 100. Despite the first entry was pre-mature, I'm still looking for short opportunities but I'm treading carefully because it is a counter-trend trade.
What I spotted is the bearish trend channel. I use this tool to confirm intraday bias because once validated, price often trade within its confinement until it invalidates it.
A trendline touch, that confluences with a weekly high, and a retest of a previous trend support as a resistance, often forms a confluence zone, giving me confirmation for a good short opportunity.
If today fully checks these primary boxes, then I'll go short on NAS 100, despite it's a counter trend trade.
Entry: 30913, SL: 30964.

If price invalidate the SL then your bias should change immediately from selling to buys

In all your confluence remember your risk management plan, no 100% strategy

Price may not change the bias quickly but can invalidate my SL level at 30964 to still form a lower high, or an equal high at that level and still drop back to my entry level (30913). That SL level shows where I'll lose interest in the sells if price invalidates it.
This is because, at that level, price will be more manipulative and indecisive struggling between, retesting previous week's high to continue buys, or trading below it for sells.

Another of my actionable plan this week is to avoid trap zones.
So, I'm out to identify the differences between flip zones, and trap zones. I've observed that not all flip zones are trap zones, but all trap zones are found around flipped zones. These are indecision zones for price, and it can take too long before price moves away from that zone and I don't want to be caught in-between that period of delay to avoid mental frustration.

Definitely.

The 4hr has closed, and price has not left my previous Entry zone at 30782, neither has it trade back to my previous SL Level (30910) which now serves as my new entry interest but rather now in a consolidation phase.

I'll wait till New York session to see what price will be doing, and how the new 4hr candle will close by 2pm.

You can just avoid it and wait patiently for price to trade away from the zone

Exactly what I am thinking