I opened two short positions yesterday. I have a few short positions that I opened last week, but I feel comfortable adding more now.
Entry - blue horizonal line in the chart.
Stop loss - red horizontal line in the chart.
Target 1, 2, 3 - black horizontal lines in the chart.
If it hit target one, I will move a stop loss to the entry position.Target 1 is the previous month low so I anticipate some correction. Once it resumes the downward movement, I plan to add position.
4H RSI provides reliable indication for pull back or trend reversal. So I will keep an eye on it.
If you are interested in knowing my reasoning for my bearish bias, please check out the linked articles I published last week.
Entry - blue horizonal line in the chart.
Stop loss - red horizontal line in the chart.
Target 1, 2, 3 - black horizontal lines in the chart.
If it hit target one, I will move a stop loss to the entry position.Target 1 is the previous month low so I anticipate some correction. Once it resumes the downward movement, I plan to add position.
4H RSI provides reliable indication for pull back or trend reversal. So I will keep an eye on it.
If you are interested in knowing my reasoning for my bearish bias, please check out the linked articles I published last week.
Trade active
Target 1 hitTrade closed: target reached
Taret2 hit
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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.
Related publications
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.