Bank of AmericaShort
BAC short - Looks like a Retracement
Updated
Several indicators point to a retracement:
-Divergence in histogram (yellow line)
-RSI touched overbought zone and crossed downwards
-ADX tightens and has plenty of space
-MACD deathcross
For retracement i inserted fibonacci. But use your own strategy to get out. (f.e. partial TP or shifting of SL downwards on the way down could be good because the move downwards could become powerful these insecure times).
-Divergence in histogram (yellow line)
-RSI touched overbought zone and crossed downwards
-ADX tightens and has plenty of space
-MACD deathcross
For retracement i inserted fibonacci. But use your own strategy to get out. (f.e. partial TP or shifting of SL downwards on the way down could be good because the move downwards could become powerful these insecure times).
Trade closed: target reached
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