We're hitting a resistance on the 30min timeframe.
If it's broken, i'll close the trade and enter on the second resistance zone i drew.
Bollinger bands on the 30 min timeframe, and RSI/MA cross on the 5 min timeframe (above 70) is telling me that it might be time for a small scalp (short).
If it's broken, i'll close the trade and enter on the second resistance zone i drew.
Bollinger bands on the 30 min timeframe, and RSI/MA cross on the 5 min timeframe (above 70) is telling me that it might be time for a small scalp (short).
Note
Reminder: I don't take too much risk here, I enter with small lot size.I am aware that this resistance zone is a 50/50 chance, and not as strong as the next resistance, so I entered with less lots than the previous long trade we won (so if we lose this one, we'll still end the day profitable !
Risk management is key in trading !
Trade active
Kept the first sell open, and scalped a few times on the second resistance zone.
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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.