This is the daily chart. I will be focusing on longer time frames from now on as it makes more sense for me; they are not susceptible to daily news and violent fluctuations in the market and they are easier to manage as you don't have to be watching your positions 3 times a day...
We can clearly see a downtrending market with repeating patterns when the MFI indicator is overbought and the price is retesting trend line...
Very simple. Stop loss above the last market structure, or when there is a clear confirmation that the trend line has been broken; thus would nullify our initial consensus that the trend is in continuation...
We can clearly see a downtrending market with repeating patterns when the MFI indicator is overbought and the price is retesting trend line...
Very simple. Stop loss above the last market structure, or when there is a clear confirmation that the trend line has been broken; thus would nullify our initial consensus that the trend is in continuation...
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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.