I used a few indicators and it has served me well over the years.
I prefer to keep to these few as it worked for me thus far and like to keep the charts as simple as possible.
1. Notice the twice bearish engulfing candles - a sign of bears taking over the bulls but wait.........
2. 21EMA - notice the price is still above 21EMA , so there is still a chance to rebound, do not sell prematurely.......
3. FIB level - notice there is support at 50% FIB level? If the price action is well supported, then it might rebound else it will goes southward to the 618 FIB level
4. MACD - I used this sparingly. Notice it is likely to cross over soon ? Again, do not jump the gun and assume it would definitely do so. Selling early may be a costly mistake as I had learnt from my past mistakes, trying to move ahead of the market trends. Sometimes in trading, one has to be a follower no matter how much of "Leadership" you think you have in you, haha. Follow the trend until it has changed - easy to say , not so easy to follow.
Best of luck
I prefer to keep to these few as it worked for me thus far and like to keep the charts as simple as possible.
1. Notice the twice bearish engulfing candles - a sign of bears taking over the bulls but wait.........
2. 21EMA - notice the price is still above 21EMA , so there is still a chance to rebound, do not sell prematurely.......
3. FIB level - notice there is support at 50% FIB level? If the price action is well supported, then it might rebound else it will goes southward to the 618 FIB level
4. MACD - I used this sparingly. Notice it is likely to cross over soon ? Again, do not jump the gun and assume it would definitely do so. Selling early may be a costly mistake as I had learnt from my past mistakes, trying to move ahead of the market trends. Sometimes in trading, one has to be a follower no matter how much of "Leadership" you think you have in you, haha. Follow the trend until it has changed - easy to say , not so easy to follow.
Best of luck
