short idea
Updated
1. Pivot point has been broken but the price has reached a key area of interest 1907-1909 area.
2. As seen, the RSI is reading overbought conditions, combine that with Stoch and you get a clear overbought market condition.
3. You need to wait for a bearish conviction candle to form before going short.
4. After confirming this, go all in and target for the PP 1902 zone with S1 1894 in extension... make sure you put your stop loss just above R1 just incase a bearish failure occurs. You don't want to blow your account 😂
2. As seen, the RSI is reading overbought conditions, combine that with Stoch and you get a clear overbought market condition.
3. You need to wait for a bearish conviction candle to form before going short.
4. After confirming this, go all in and target for the PP 1902 zone with S1 1894 in extension... make sure you put your stop loss just above R1 just incase a bearish failure occurs. You don't want to blow your account 😂
Note
As a result of the move... you can move your stop loss below your entry price just in case the momentum dies down while you are away from the screenBut make sure it gives the price movement room so that your position isn't closed due to retracements.
But if you are still on your screen, just keep an eye on the ADX.
Note
You can lock in your profits now... but you can leave your position open move your stop loss to PP and take profit to S1
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