MLCF:PSX is expected to continue downtrend
MLCF:PSX was analysed on 1D time frame and has been observed to print LHs and LLs. Simultaneously, bearish divergence is also evident on RSI. Therefore a short entry through a Sell Stop order has been on price breaking down below that last LL. SL has been placed above 61.8% fib level of swing as it hasn't completed forming the new LH. It may be adjusted in coming days if so required. TP has been set as per 1:1 RRR.
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.