A common thing I have been reading on article is that when price makes a huge difference with its closing price and an MA then it will move towards the MA to correct itself. So this is based on it. Any thoughts on this ? anything I should have done different ?
my reasons for taking a short position are RSI in selling zone Bearish candle after doji Top of channel MA crossover
Textbook analysis :D Reasons to go short. RSI in shorting zone MA cross over previously closed candle is a doji and the following is bearish I would have entered 5 pips below the wick of the doji but now have to wait to find an entry. Anyone know something to read to find entries ?
Bearish till the 0.5 fib then bullish What say ?
entry pint just above the right shoulder take profit just below the SR
i WOULD ENTER AFTER THE NEXT CANDLE CLOSE
A nice entry point for a longer ride up would have been just after the high of the 05-22 candle. I have considered 8 and 21 EMA as my support and resistance. The price has closed below the 21 EMA a little doubtful at that but seeing as its only a little difference I have placed the buy order.