Price is currently hovering around a sell zone Ive drawn up. Shown good signs of rejection already.
I'm waiting for price to climb back up & then show me a nice momentum candle down towards the trend line.
If the momentum down starts within the sell zone then I will be taking a short trade. If I miss the momentum I will wait for price to break the trend line & again, if I see good momentum I will take the trade, if not, wait for a retest of the previous trend line ie, support which will now hopefully be the new resistance line.
Indicators showing over bought which supports the trade & it's at a good level between the Fib 50 & 618.
Will be dropping down to the 15 min chart to catch the momentum candle. Good luck :)
I'm waiting for price to climb back up & then show me a nice momentum candle down towards the trend line.
If the momentum down starts within the sell zone then I will be taking a short trade. If I miss the momentum I will wait for price to break the trend line & again, if I see good momentum I will take the trade, if not, wait for a retest of the previous trend line ie, support which will now hopefully be the new resistance line.
Indicators showing over bought which supports the trade & it's at a good level between the Fib 50 & 618.
Will be dropping down to the 15 min chart to catch the momentum candle. Good luck :)
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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.