Potential Short on UCAD (daily) , provided bearish confirmation.
Simple one legged move, bounce off 36 ema downwards.
Problem: Big area of demand/support awaiting which we have bounced off of multiple times, and we are shorting on a pullback near that zone.
If candlestick on monday is a healthy bearish stick, breaking and closing below 12ema, we can look for shorts, securing most profits at the previous demand/support area which we havent broken yet. If we break support too, trail the rest of the profits.
Recommended: HALF risk because price is constricted and showing a little stagnation (no more than 0.5% of account).
Simple price action: Indicators: EMA's (dynamic support/res for pullback trend trading AND Heiken Ashi for comforts of scalping.
Problem: Big area of demand/support awaiting which we have bounced off of multiple times, and we are shorting on a pullback near that zone.
If candlestick on monday is a healthy bearish stick, breaking and closing below 12ema, we can look for shorts, securing most profits at the previous demand/support area which we havent broken yet. If we break support too, trail the rest of the profits.
Recommended: HALF risk because price is constricted and showing a little stagnation (no more than 0.5% of account).
Simple price action: Indicators: EMA's (dynamic support/res for pullback trend trading AND Heiken Ashi for comforts of scalping.
Note
TP1: 1.2650TP2: TRAIL with suitable trailing indicators/trailing behind EMA (take 80%+ profits out at TP1).
SL: 1.2853 (Optional level).
Note
JUST AN OBSERVATION, NOT AN INVESTMENT OPPORTUNITY! RISK AT YOUR OWN DISCRETION!Trade closed: target reached
Hit TP 1.2643. Can leave 10% of your trade position to run down on break even if we break through support to target the next lows on daily/weekly chart.
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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.