What About a Short Trade?
Updated
Price has not moved above MA20 on the daily chart. So, we think about short trades on hourly charts and open trades with close targets. Look at this 4H chart, we have a down movement and a possible entry level below 1321,80. MACD and RSI confirm price reversal from falling MA50. Just one thing which does not support our short trade - it's ADX falling below 20. Based on DMI we have range market conditions and we'll need more time for price movement in the direction of our trade. Stop order should be placed above 1333.80 and profit target near support level.
Trade closed: stop reached
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.