NAS100 Intraday Short: Riding the Bearish Momentum with a Re-entry Strategy

Market Overview and Trend Confirmation

Good morning, fellow traders. Taking a look at the NAS100 this morning, we're currently hovering around 21379.14, showing a 24-hour change of -120.86, or -0.56%. The overall sentiment remains firmly bearish, which aligns perfectly with my core belief: "The trend is your friend." Price action over the last 24 hours confirms this, with the market unable to sustain moves above the 21500-21560.43 resistance zone, which acted as a strong ceiling. The day range, from 21197.84 to 21560.43, shows that sellers are in control, consistently pushing prices lower from the highs. This downward pressure is a clear signal for intraday opportunities.

Intraday Short Setup & Rationale

Given the prevailing bearish trend, I'm looking for an intraday short setup on the NAS100. My preferred entry for this trade is at 21437. This level represents a potential retest of a broken support or a pullback into a key resistance area within the current downtrend. We've seen resistance firm up around 21450, and a push back into this zone would offer a high-probability entry point. My Stop Loss is strategically placed at 21727, just above the daily high and the 21560.43 resistance, providing ample room for market noise while protecting capital effectively. For the Take Profit, I'm targeting 20857. This level is well below the current day