Monday, London's session at 08:00 GMT:
RSI: In the overbought zone, above 70%.
Bollinger Bands: Signalling a possible 'Sell' opportunity.
EMA 55: The market appears to have reached its peak.
I see an opportunity to enter a 'Short' trade here.
PS: This is my own strategy and backtesting the results.
RSI: In the overbought zone, above 70%.
Bollinger Bands: Signalling a possible 'Sell' opportunity.
EMA 55: The market appears to have reached its peak.
I see an opportunity to enter a 'Short' trade here.
PS: This is my own strategy and backtesting the results.
Note
Update:I consider both Daily and H4 charts when conducting my analysis, and I see that both charts are in alignment, indicating that the market is in an overbought zone.
The candlesticks formation on the charts suggests a potential reversal.
Trade closed: stop reached
The market reacted to the news and not in my favour. SL triggered and the position was closed.
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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.