- Reasons to Short 1. Price has retraced up to a strong Supply Level and is showing signs of exhaustion by analyzing the Candlestick Price Action at this level. 2. A Rising Wedge can clearly be seen and is indicative of a bearish reversal pattern. 3. Current Price Level has also reached a prior ascending trendline (now acting as resistance) 4. Bearish Divergence can be seen on the RSI as price level reaches overbought conditions.
- I will be looking for this weekly closure candle to give me further insight to this setup, can be a good opportunity for next week.
הערה
Last week's closure showed a strong bearish move, breaking the Rising Wedge. This week I will look for a re-test of broken structure to confirm the downside move and go short. Overall, I am very pleased with the Weekly Closure, being that the candle closed in an inverted hammer. (Bearish Candlestick Pattern). I will continue to update this idea as the week continues. Cheers.
הערה
I forgot to update, my apologies. However, the trade was a success. I took it short all the way down to .98.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.