There is a nice bearish flag forming & price is currently at a little bit of a resistance level & indication of over bought on the 1 & 4 hr chart.
A good opportunity to get involved with a bearish pattern & catching it earlier than the breakout.
I will be moving stop loss to break even as soon as price touches the flag trend line just in-case it bounces back up before the drop. Good luck :)
A good opportunity to get involved with a bearish pattern & catching it earlier than the breakout.
I will be moving stop loss to break even as soon as price touches the flag trend line just in-case it bounces back up before the drop. Good luck :)
Komen:
Price action close to retesting a little trend line, so I will be looking for signs of rejection & then a good momentum candle to the downside.
Hopefully get a nice drop to the red box which is 90+ pips
Indicators showing overbought to support the move.
If price breaks the trend, then void this trade :)
Hopefully get a nice drop to the red box which is 90+ pips
Indicators showing overbought to support the move.
If price breaks the trend, then void this trade :)
Will short this again once it looks over bought on the RSI & hopefully price action will be back up around the same area as the first short trade.
If price does break this trend down, then try to catch the momentum down.