Hello traders another wonderful week!! I don't like this trade that much
Lets dive deep
What we have here is a structure That has held up very but has finally been broken.
I'm pretty sure you can identify that this is a downtrend and we are planning on joining the movement.
This trendline is carefully placed with 2 touches with the on that I circled being the third touch. That is what I don't like about this trade "It takes 2 to hire but 3 to fire" you should avoid trades with 2 touches.
The 50 EMA with default settings clearly shows us that this is a downtrend.
One thing I don't like about this trade is that we don't have a divergence on this trade
Lets dive deep
What we have here is a structure That has held up very but has finally been broken.
I'm pretty sure you can identify that this is a downtrend and we are planning on joining the movement.
This trendline is carefully placed with 2 touches with the on that I circled being the third touch. That is what I don't like about this trade "It takes 2 to hire but 3 to fire" you should avoid trades with 2 touches.
The 50 EMA with default settings clearly shows us that this is a downtrend.
One thing I don't like about this trade is that we don't have a divergence on this trade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.