SHORT OPPORTUNITY
Updated
I told you on the LONG trade to close or at least reduce position at 4.75 and I was thinking about opening a short at that stage as it was struggling at that resistance.
It seem to be now at the top of a consolidation channel. We have a few signs of the price heading south the EMA cross over, volume decline, RSI cross over and the consolidation channel forming along with the bull failing to break the last resistance. BUT we also have an hidden bullish RSI divergence. I will wait for a full cross over of the EMA, probably on the 4H to enter the short. RR ain't too bad but again I might be wrong so keep the negativity out please.
Trade Safe!!
It seem to be now at the top of a consolidation channel. We have a few signs of the price heading south the EMA cross over, volume decline, RSI cross over and the consolidation channel forming along with the bull failing to break the last resistance. BUT we also have an hidden bullish RSI divergence. I will wait for a full cross over of the EMA, probably on the 4H to enter the short. RR ain't too bad but again I might be wrong so keep the negativity out please.
Trade Safe!!
Trade closed: target reached
T/P at 4.61 filled. If you still riding that wave, as usual, take some profit if your platform/broker allow it and tighten your S/LTrade Safe!!
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