The european index has been rising incredibly fast lately but our algorithm has found an alert to sell the index.
Statistics says that after a 20% rally and having a massive resistance above the probabilities of a trend change are really big, at least in the short term.
By selling in the 4.000 zone, you can adjust your stop to 4.100/200 depending on your risk aversion and have a take profits at maybe 2 or 3 times your Stop Loss.
So, odds are clearly in our favor and the risks can be easily mitigated thanks to this resistance level. As a bonus tip, look how the volume is decreasing meaning the less and less interest in buying this index at this new prices.
Statistics says that after a 20% rally and having a massive resistance above the probabilities of a trend change are really big, at least in the short term.
By selling in the 4.000 zone, you can adjust your stop to 4.100/200 depending on your risk aversion and have a take profits at maybe 2 or 3 times your Stop Loss.
So, odds are clearly in our favor and the risks can be easily mitigated thanks to this resistance level. As a bonus tip, look how the volume is decreasing meaning the less and less interest in buying this index at this new prices.
Nota
As expected with a 100$ stop loss we had the chance to gain +200$ with an awesome risk reward ratio. Now the price movement is more unpredictable.Dagangan ditutup: sasaran tercapai
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You can find more fresh ideas and educational content in my free newsletter:
topchartpatterns.substack.com/subscribe
All my returns of tradingview public ideas at:
topchartpatterns.com
topchartpatterns.substack.com/subscribe
All my returns of tradingview public ideas at:
topchartpatterns.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.