(MENAFN- Daily Forex) It is important for day traders to be able to say they were wrong. Admitting that the direction of a chosen asset isn't going the way that was targeted is crucial to staying alive in the marketplace in order to fight and wager another day. That is why risk management is always stressed. The Nasdaq 100 after showing early signs of moving higher yesterday, then ran into another buzzsaw. And early trading this morning via the futures session shows nervousness remains heightened in the Nasdaq 100.

The current price of the Nasdaq 100 is around 24,645.00, yesterday's highs were able to touch the 25,326.00 vicinity. A tale of the recent price tape shows that the Nasdaq 100 at 25,770.00 on last Wednesday. After moving to a low on Friday the 7^th of November, the Nasdaq 100 skimmed prices around the 24,600.00 mark.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money Curious Values and Cautious Sentiment Mixing

After touching the lower depths of nearly 24,600.00 on the 7^th of November, the Nasdaq 100 gained, perhaps because the U.S government shutdown was end early last week. The run higher up to Wednesday's apex near the 25,770.00 stirred bullish opinions again. Yet, the value of the Nasdaq 100 continued to face pressure downwards and now the famed index is fairly close to the lows seen on the 7^th of November.

Sentiment has turned from cautious to nervous in trading circles. Yesterday's brief show of upwards force vanished and this morning's early whispers via the futures markets are not promising. So who do you believe regarding direction? Sometimes it is good to take a step back and simply look over the trading landscape and try to relax, particularly if you have been proven wrong. The lower momentum in the Nasdaq 100 should be treated carefully by day traders the Trend and Losing Money

Speculators who are obsessed with the promise of upwards movement in the Nasdaq 100 need to consider the possibility that selling is stronger than anticipated currently. The promise of always going higher is not realistic. The Nasdaq 100 touched the 26,300.00 vicinity in late October. Bearish traders are likely content for the moment.

• Curiously enough the Nasdaq 100, before the rise to apex values in late October, had touched lows around the 24,300.00 ratios in the middle of the month.
• The Nasdaq 100 can and does move fast.
• Volatile lows caused by frenzied selling are frequently met by reversals higher.
• However, the selling pressure in the index for the moment still appears to be showing negative direction.
• Timing when the cautious sentiment will fade is difficult and day traders need to be careful.
• Important targets from the middle of October below may have to be challenged before large players feel the Nasdaq 100 has oversold.

EURUSD Chart by TradingViewNasdaq 100 Short-Term Outlook:

Current Resistance: 24,760.00

Current Support: 24,580

High Target: 24,970.00

Low Target: 24,330.00

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