With a rising wedge pattern, this will continue it's bearish downtrend.
Why short it?
- Bearish chart pattern
- MACD ready to cross signals into bearish territory
- RSI - close to being overbought
What is the final confirmation to look for?
- If 4hr closes below the 20 day MA
This shorting opportunity can give at least 100 pips with a 3:1 Risk/Reward Ratio for a conservative trader
Why short it?
- Bearish chart pattern
- MACD ready to cross signals into bearish territory
- RSI - close to being overbought
What is the final confirmation to look for?
- If 4hr closes below the 20 day MA
This shorting opportunity can give at least 100 pips with a 3:1 Risk/Reward Ratio for a conservative trader
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.