There's divergence on the higher time frames and strong resistance around the Monthly R2.
If we get a break of the trend support, take this short.
If we get a break of the trend support, take this short.
Note
I adapted my money management/risk management a bit. That's why there are two short setups shown on the chart. The one on the left I will input at my broker. The one on the right is actually what I am aiming to achieve. I've noticed on quite a few occasions I get stopped out only to see it head down directly after. So this mitigates this problem. Of course, this has to be monitored such that you don't overexpose your risk.Trade active
Trade closed: target reached
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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.