Intermediate Down - Upmove losing steam
Current prices are at the top of the downward channel which may be a build up for a short term short opportunity.
For confirmation;
1. declining MACD histogram - Check;
2a. oversold RSI levels - Check;
2b. declining RSI levels; and
3. breakdown of the bearish horizontal triangle, see 240 chart (48.4)
Trade details
Stop loss: Immediate preceding high (50.5)
Partial profit: Short term profit in the region of the grey / black lines (micro channel lines)
Full profit: nearing intimidate lows (44.0 or 42.5 depending on your risk tolerance) or at channel support line
Expected duration: 3-4 weeks
Ratio
SL : Enter: TP
50.55 : 48.3 : 44.5 (conservative)
2.25/3.8 - Reward to risk at 1.7
Best trades^^
For confirmation;
1. declining MACD histogram - Check;
2a. oversold RSI levels - Check;
2b. declining RSI levels; and
3. breakdown of the bearish horizontal triangle, see 240 chart (48.4)
Trade details
Stop loss: Immediate preceding high (50.5)
Partial profit: Short term profit in the region of the grey / black lines (micro channel lines)
Full profit: nearing intimidate lows (44.0 or 42.5 depending on your risk tolerance) or at channel support line
Expected duration: 3-4 weeks
Ratio
SL : Enter: TP
50.55 : 48.3 : 44.5 (conservative)
2.25/3.8 - Reward to risk at 1.7
Best trades^^
Commentaire:
Please advice on how I can remove the hyperlink of the figure "44.XX"
Commentaire:
Another short entry at this point (51.60), to partial TP at 50.40 and SL an declining orange downward slope (52.30 and declining).
0.7 loss to 1.2 Profit -> ratio of 1.7
0.7 loss to 1.2 Profit -> ratio of 1.7