Here we see a really nice set up for a Short swing trade.
On the weekly chart the price is over extended and has broken the upward trend line with a declining MACD histogram. In addition, the price has come to point where AB=CD and due for reversal/correction .
On the Daily chart we see a Head and Shoulder reversal pattern with a Bearish Engulfing candle 'testing' resistance after price it has broken downward through the upward trend line . In addition, we see a MACD histogram bearish divergence with strong downward momentum.
Entry trigger just below the latest ( bearish ) candle with stop loss above it. Two take profit targets at 38.2% and 50% Fibonacci retracement respectively. A nice swing trade with a 1:2 risk/reward ratio
On the weekly chart the price is over extended and has broken the upward trend line with a declining MACD histogram. In addition, the price has come to point where AB=CD and due for reversal/correction .
On the Daily chart we see a Head and Shoulder reversal pattern with a Bearish Engulfing candle 'testing' resistance after price it has broken downward through the upward trend line . In addition, we see a MACD histogram bearish divergence with strong downward momentum.
Entry trigger just below the latest ( bearish ) candle with stop loss above it. Two take profit targets at 38.2% and 50% Fibonacci retracement respectively. A nice swing trade with a 1:2 risk/reward ratio
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.