Trading The Channel
Updated
We have seen an indecision candle at resistance. Looking at the 5 min timeframe we are seeing a nice chart pattern causing the price to squeeze and showing weakness with lower highs at the resistance level.
Stop loss is set above the high to give room if we see one more push up or incorrect on the analysis.
RSI is above 70 showing we are oversold
MACD is look like its going to for a crossover pushing the market down
personally I am risking 1% and plan to double my position once we see more movement to the downside
Good luck traders!
Stop loss is set above the high to give room if we see one more push up or incorrect on the analysis.
RSI is above 70 showing we are oversold
MACD is look like its going to for a crossover pushing the market down
personally I am risking 1% and plan to double my position once we see more movement to the downside
Good luck traders!
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