The reasons:
1. Price touched EMA 21 a few times and after that, was going down. So I suggest in this time it will be the same.
2. We have resistance zone;
3. We don't have STRONG support zone on 131.50 that allow price to go up;
So, I make Sell Stop on 131.10 level. If price will break it down I'll open an order.
SL: 134.35
TP: 128.50 because it'll be 100% of Fibo Retracement; If it'll be STRONG Movement, the price can go to 127.00.
RR = 1:3.7 or 1:5
Let me know, what do you think?
1. Price touched EMA 21 a few times and after that, was going down. So I suggest in this time it will be the same.
2. We have resistance zone;
3. We don't have STRONG support zone on 131.50 that allow price to go up;
So, I make Sell Stop on 131.10 level. If price will break it down I'll open an order.
SL: 134.35
TP: 128.50 because it'll be 100% of Fibo Retracement; If it'll be STRONG Movement, the price can go to 127.00.
RR = 1:3.7 or 1:5
Let me know, what do you think?
Note
I think, the best way now to change SL from 134.350 to 133.100. So if you do like this, you won't lose money, if price will go against you.Note
For now I changed SL to 132.00, so in any way I have profit from this order. As we can see, the last candle is very bearish, so I think we can change TP to 127.00
Note
I closed a position on 130.00.I think it'll make some long to 131.00-131.50 and will make some short again. Be ready
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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.