NASDAQ Possible Short???US Nas 100OANDA:NAS100USDGarethxsavageBearish Bias: Nasdaq 100 (4H) The higher-timeframe structure continues to favor the downside despite the recent rebound from demand. Price remains within a broader bearish market structure after failing to reclaim the previous swing highs, and the latest rally appears corrective rather than impulsive. The reaction from the demand zone has produced a retracement into a key premium area, where multiple technical confluences are beginning to align. The current pullback is approaching the 0.618–0.786 Fibonacci retracement (approximately 29,449–29,646), a region commonly associated with institutional sell-side interest during bearish trends. The 0.85 retracement around 29,721 further strengthens this premium pricing zone. In addition to the Fibonacci confluence, price is also retracing back into a previously broken intraday support area. This creates the potential for old support to act as new resistance, increasing the probability of sellers defending this region. As long as price remains below the recent lower high around 29,897, the bearish structure remains intact. A rejection from the premium zone would increase the likelihood of another impulsive move lower, initially targeting the recent swing low near 28,725. A break below this level would expose the liquidity resting beneath the demand zone, potentially extending the decline toward 28,408, which aligns with the -0.27 Fibonacci extension. Trade Thesis Bias: Bearish Preferred Scenario: Wait for bearish confirmation within the 29,450–29,720 premium zone before looking for short opportunities. Invalidation: A sustained break and close above 29,897 would weaken the bearish outlook by violating the current lower-high structure. Downside Targets: Target 1: 28,725 (recent swing low) Target 2: 28,408 (-0.27 Fibonacci extension) Overall, the current price action appears to be a retracement into a high-probability sell zone rather than the beginning of a new bullish trend. Unless buyers can reclaim and hold above the recent lower high, rallies into premium pricing are more likely to attract selling pressure, keeping the broader downside bias intact.