Short
MATIC/USDT (SHORT POSITION) with last confirmation.
Entry: $1.648-$1.652 (I have lowered the entries as you will see this post later)
Stop Loss: $1.736
Take Profit: $1.416, $1.357
Analysis: Blue line is the support that has been tested few times. I believe you know that I was planning to short it but I was waiting for the last confirmation which will be the fakeout from my resistance line (Purple). Logically, we should wait for this 4 candle to close before entering the trade but I decided to enter the trade earlier as the selling pressure is getting higher.
Bearish Signs: Lower Highs, Triple Bottom, Fakeout( To be confirmed) and lower volume.
All the best. Stay close and ask me if you need anything by commenting below.
Stop Loss: $1.736
Take Profit: $1.416, $1.357
Analysis: Blue line is the support that has been tested few times. I believe you know that I was planning to short it but I was waiting for the last confirmation which will be the fakeout from my resistance line (Purple). Logically, we should wait for this 4 candle to close before entering the trade but I decided to enter the trade earlier as the selling pressure is getting higher.
Bearish Signs: Lower Highs, Triple Bottom, Fakeout( To be confirmed) and lower volume.
All the best. Stay close and ask me if you need anything by commenting below.
Related publications
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.
Related publications
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.