A short position has been entered based on price action at key levels that align with the 200 day MA.
1. Previous month and previous week high line up the same (key level).
2. Fake breakout occurred yesterday as you see the large engulfing candle straight back into the range.
3. Current candle retested this breakout zone and rejected forming a nice daily pin bar.
Short position entered with a risk to reward close to 1:3
1. Previous month and previous week high line up the same (key level).
2. Fake breakout occurred yesterday as you see the large engulfing candle straight back into the range.
3. Current candle retested this breakout zone and rejected forming a nice daily pin bar.
Short position entered with a risk to reward close to 1:3
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.