Short

Comprehensive Multitimeframe Analysis

By John_Boba

Updated

24.04.2021

Monthly TF

downtrend, see MACD
Stoch. declines and approaches oversold

Weekly TF

last week doji --> market is undetermined
price is in the value zone close to EMA 20 Weekly
MACD shows uptrend --> long trades preferred
Stoch. approaching rises and approaches overbought

Daily TF

uptrend broken, last two days downtrend
MACD declines confirming downtrend --> Short
Stoch. moved down showing bear power --> Short

4h TF

last top at 1797.934 with bearish divergence according to MACD, RSI and Stoch. showing reversal of trend since 31.03.2021 --> Short
Session Volume is above the price level showing down pressure --> Short

1h TF

price is not in the value zone of MA yet

Scenario
support area weeks 14.04.2020 till 15.06.2020 should be tested once again, see weekly chart

If Stoch. will be in overbought area when prices near value zone in 1h TF short trade might be profitable.
First target 1757, second target 1745

Your feedback is much appreciated.

Note

ATR Daily of last 5 day = $20 --> for 26th Apr. upper Line 1797.35, lower line 1737.35

Please like my Idea if it is useful for you. It will encourage me to post more ideas.

Trade active

Shooting star at 6 a.m. UTC+1. First target 1771

Trade closed: target reached

Reached at 13:10. Next Hour Candle like Hammer?

John_Boba

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