Intermediate Down - Upmove losing steam
Updated
Current prices are at the top of the downward channel which may be a build up for a short term short opportunity.
For confirmation;
1. declining MACD histogram - Check;
2a. oversold RSI levels - Check;
2b. declining RSI levels; and
3. breakdown of the bearish horizontal triangle, see 240 chart (48.4)
Trade details
Stop loss: Immediate preceding high (50.5)
Partial profit: Short term profit in the region of the grey / black lines (micro channel lines)
Full profit: nearing intimidate lows (44.0 or 42.5 depending on your risk tolerance) or at channel support line
Expected duration: 3-4 weeks
Ratio
SL : Enter: TP
50.55 : 48.3 : 44.5 (conservative)
2.25/3.8 - Reward to risk at 1.7
Best trades^^
For confirmation;
1. declining MACD histogram - Check;
2a. oversold RSI levels - Check;
2b. declining RSI levels; and
3. breakdown of the bearish horizontal triangle, see 240 chart (48.4)
Trade details
Stop loss: Immediate preceding high (50.5)
Partial profit: Short term profit in the region of the grey / black lines (micro channel lines)
Full profit: nearing intimidate lows (44.0 or 42.5 depending on your risk tolerance) or at channel support line
Expected duration: 3-4 weeks
Ratio
SL : Enter: TP
50.55 : 48.3 : 44.5 (conservative)
2.25/3.8 - Reward to risk at 1.7
Best trades^^
Note
Please advice on how I can remove the hyperlink of the figure "44.XX"Note
Another short entry at this point (51.60), to partial TP at 50.40 and SL an declining orange downward slope (52.30 and declining).0.7 loss to 1.2 Profit -> ratio of 1.7
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