There is a clear setup with a Super Pivot Stack in place. Our bias is to the downside and there is a lot of resistance above our current price levels up to .90188.
Go short if the price breaks .89390 and place your stop loss at .90210. Shoot for a profit target at .87090.
Go short if the price breaks .89390 and place your stop loss at .90210. Shoot for a profit target at .87090.
Note
This is overdue for an update. I am trailing the stop loss now that the market has broken down (days ago:)). With such a sharp move down be patient and trail the stop loss. It can be tempting to exit before the profit target is hit, with such a strong selloff.
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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.