Weekly rsi was overbought and it has sell pressure from the weekly ma50 so I think we just started to Phase D of distribution. Before to rise again, rsi needs to take breath also we need to check support lines. This brings a short opportunity here.
Short between 5250-5150.
Tp1 : 4920
Tp2 : 4780
If support lines broke,
Tp3 : 4620
Tp4 : 4480
Stop Loss: over 5350.
This is my first post in here so all kindly criticism and suggestions are welcome.
All the best and good luck for you.
Short between 5250-5150.
Tp1 : 4920
Tp2 : 4780
If support lines broke,
Tp3 : 4620
Tp4 : 4480
Stop Loss: over 5350.
This is my first post in here so all kindly criticism and suggestions are welcome.
All the best and good luck for you.
Trade closed: stop reached
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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.