See confluence of 50MA (h4) , previously inflected horiz resistance & 50% retracement.
I have went short here at yesterdays open. SL placed just above market high. This will moved once I see a reaction to the downside further improving my R:R on the trade. I always place my SL's at the point where my opinion is proved wrong. If a new high is printed here then my opinion of a downside confutation is incorrect.
My target will be a retest of the local market low. We can see there is volatility to the downside here (swift moved to the downside last week followed by a weak upside move.
Zooming out to a macro view - there is a case for a larger H&S forming.
I have went short here at yesterdays open. SL placed just above market high. This will moved once I see a reaction to the downside further improving my R:R on the trade. I always place my SL's at the point where my opinion is proved wrong. If a new high is printed here then my opinion of a downside confutation is incorrect.
My target will be a retest of the local market low. We can see there is volatility to the downside here (swift moved to the downside last week followed by a weak upside move.
Zooming out to a macro view - there is a case for a larger H&S forming.
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.
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.