Previous important support and resistance zones:
***s1: 50.46
**s2: 41.68
**r1: 55.50
**r2: 59.73
Conditions for short:
1.rising wedge breakout in a downtrend
2.support zone ***s1: 50.46 breakout
3.trendline breakout
4.momentum indicator trendline breakout
5.volatility increased
6.Money flow index turned red from green
7.di- is above the di+
8.adx line is above 20 level
Stoploss:
1.above the ***s1: 50.46 zone if candle is closed
Take profit:
1. Next take profit is too far away,for that my advice is to trail the profit or close the trade in profit if bullish or hidden bullish divergence shows up but not with rsi indicator
My opinion: I think the market is going in a range then downwards cause trend strength is very low right now
NB::I would not take this trade cause I don't have any spare money to lose , I just want to know other people's opinions
***s1: 50.46
**s2: 41.68
**r1: 55.50
**r2: 59.73
Conditions for short:
1.rising wedge breakout in a downtrend
2.support zone ***s1: 50.46 breakout
3.trendline breakout
4.momentum indicator trendline breakout
5.volatility increased
6.Money flow index turned red from green
7.di- is above the di+
8.adx line is above 20 level
Stoploss:
1.above the ***s1: 50.46 zone if candle is closed
Take profit:
1. Next take profit is too far away,for that my advice is to trail the profit or close the trade in profit if bullish or hidden bullish divergence shows up but not with rsi indicator
My opinion: I think the market is going in a range then downwards cause trend strength is very low right now
NB::I would not take this trade cause I don't have any spare money to lose , I just want to know other people's opinions
