NASDAQ tested the strong upside resistance of 13000 and got rejected from it. Now only a fully confirmed break above this level would indicate an upside continuation.
A pullback from here could lead to a test of 11400 which is a strong downside resistance and this should be used for the short trade entries.
Any short-term confirmed break above 12800 would lead to a bullish swing higher to 13600, but we give a little more weight to a bearish resumption and a short trade.
Short-term this is a perfect place to go short with low risk on a trade and a good reward.
You can take the short trade here with the stop loss just above 12800 as we see a higher probability of an extension lower to 11400. By placing this trade your RR ratio would be ideal and almost over 3. In the case, you are stopped you can reverse your trade to long trade entry but not advisable at this stage
