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Good sell opportunity with a decent Risk reward ratioA few things here Broken support line MACD has just crossed and entered the sell zone, shown by arrow RSI has a broken pattern as well, indicated by the arrow To set stop loss level, it is clear there is a strong resistance at around 1.075, as it bounced back down twice from this price, so 1.08 is a safe level As for the Reward, Fib and previous structures show there is a potential turn around at about 1.05 (also because its a round number as well) Let me know what you think guys :)
Short
by bogd
NWL - A quick day trading from $46.70 to $47.80 NWL seems forming a Flag formation in hourly frame. If it act nicely it will hit around $48 which is long term down channel resistance line. Trade Criteria Entry Target Criteria- Break of $46.70 Exit Target Criteria- $47.89, $48 Stop Loss Criteria- $ You can check detailed analysis on NWL in the trading room/ Executive summary link here- www.screencast.com . ( Access only for the subscribers) Time Span- 53:00" Trade Status: Pending (Note: Trade update is delayed here. To get updated & get new Trade Ideas - Please subscribe to our Newsletter at: acornwealthcorp.com/gold)
NLong
by AcornWealthCorp