Key Level: 4384.90, 4300.47, 4232.17, 4059.55
Price Action: The price has been smoothly trending down below the moving averages. there was a brief pullback when price reached KL 4300.47, The is formation of strong bearish engulfer hinting the trend wants to continue.
Potential Trade Idea: We are looking to go short with 50 % retrace to the engulfer to allow wider stop loss
Parameters : Sell Limit
Entry Price: 4332.67
Stop Loss: 4387.98
Take Profit: 4060.22
Price Action: The price has been smoothly trending down below the moving averages. there was a brief pullback when price reached KL 4300.47, The is formation of strong bearish engulfer hinting the trend wants to continue.
Potential Trade Idea: We are looking to go short with 50 % retrace to the engulfer to allow wider stop loss
Parameters : Sell Limit
Entry Price: 4332.67
Stop Loss: 4387.98
Take Profit: 4060.22
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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.