Megafon short term trading

22 oct. 2018

Overall.
Long-term consideration.
From start of 2018 slight attempts to reverse.

Weekly.
Slow formation.
I did not consider trend indicators like RSI and MACD here because of flat\low actions.
Presumably for such long correction that lasts 4 years, the chance of quick changes not so high.
All looks that price reluctantly prepares for range.
Or Probably continue of decline.
I do not see strong support from which reversal could be and new trend started.
Only Volumes shout something.


Daily
To confirm edning of trend price should be fixed above S/R level (rectangle)
Now pattern of bounce and correction down forming.
Stochastic has direction to down.
If we consider last Zig-Zag it looks like 1 huge indecision bar.
Due to weakining downtrend.
RSI was overbought

4H
Nothing new

1H
Divergence by RSI
STochastic also shows divergence
SR around 592.

I think to open short on short-term, and work on that timeframe until the W and D will get clear pattern, resolve indecisions and then I want to take actions on,
Entry 591
SL 601
TP 550
RR 3.98

29 oct. 2018

Transaction en cours

opened short from 591

7 nov. 2018

Trade fermée: ordre d’arrêt atteint

- 10 PIPS
RR 4