For confirmation of short; 1. Reached slowdown area, red 2. Overbought RSI and 0 gradient 3. Overbought MACD and declining signal line
Short at 52.40 Stop loss: honestly cant tell at this point in time Expected TP: before preceeding high, 50.40 (maybe at 50.55) Profit range of 1.80, to achieve a rr ratio of 2, SL is to be set at 53.3 (i.e. 52.4 + 1.8/2)
Best trades ^^
Trade active
Enter short
Trade active
Partial profit taken at 49.26, currently at 0.382 fibb levels thus expecting some support.
Comment
Bounced up, to monitor strength of this reversal up
Comment
Possible formation of an upward (bearish) wedge if it isnt a channel.
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.