MTCH: SETTING UP for a break
Updated
MATCH is at an attractive level for a short.
BUT
- be patient for a set up.
- there has been signs of exhaustion, first on April 27, second on May 8, and third on may 22, however,
- the first one has been reversed May 5
- the second one has been reversed on May 18
- and the third one has not been coupled with the RIGHT price action, and was above the important support level.
- the first two were actionable, meaning that I would have traded them, but I hadn't been closely watching until the third sign.
- If I had, it would have been a very small loss, but I would consider them good trades.
The current price has reached a strong resistance, but this should never be the sole reason to short.
I am waiting for a sign of exhaustion to short, may it be a divergence, a price action, or my custom indicator.
But there is no need to get involved just yet.
BUT
- be patient for a set up.
- there has been signs of exhaustion, first on April 27, second on May 8, and third on may 22, however,
- the first one has been reversed May 5
- the second one has been reversed on May 18
- and the third one has not been coupled with the RIGHT price action, and was above the important support level.
- the first two were actionable, meaning that I would have traded them, but I hadn't been closely watching until the third sign.
- If I had, it would have been a very small loss, but I would consider them good trades.
The current price has reached a strong resistance, but this should never be the sole reason to short.
I am waiting for a sign of exhaustion to short, may it be a divergence, a price action, or my custom indicator.
But there is no need to get involved just yet.
Note
Not yet, strength dwindling but not gone.Order cancelled
seems ripe to short. want to short, but cannot find a good RR entry. If it had gone higher before showing weakness, it would have been much better.
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