PEOPLE reversal short
Updated
Daily:
- price currently testing daily zone
4H:
- retraced to 0.382 fib level and 4h resistance, wicked showing weakness on previous close. Price also flat line overextended on stoch and at top ma of bollinger band
1H:
- broke uptrend structure with bearish divergence
15 min:
- broke short term support back into prevoius area, retested, had bearish engulfing candle close
Stop loss: 0.0755
- Above resistance and local high / wick
take profit: 0.0411
- at bottom of recent run up giving me a 5:1R
- price currently testing daily zone
4H:
- retraced to 0.382 fib level and 4h resistance, wicked showing weakness on previous close. Price also flat line overextended on stoch and at top ma of bollinger band
1H:
- broke uptrend structure with bearish divergence
15 min:
- broke short term support back into prevoius area, retested, had bearish engulfing candle close
Stop loss: 0.0755
- Above resistance and local high / wick
take profit: 0.0411
- at bottom of recent run up giving me a 5:1R
Comment
TP 1 hit @ 0.062- half of position still remains
Trade closed manually
Closed with small profit. Bullish short term on overall market, PEOPLE looks like it may be forming a bull flag. Also broke back above important s/r level
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