Open - 1936.04
TP1 - 1951.25
TP2 - 1982.18
TP3 - 1988.01
SL - 1921.59
Always target the 1st take profit once the setup has been validated as it is always reached. This assertion is based on previous setups. Take note that this is a bearish down trend as confirmed by the SMA 200 and Money Flow Index.
A buy signal has been confirmed by the Money Flow Index as the RSI is in an oversold position. An engulfing candle will confirm a buy but will hit resistance at 1939.19 and possibly reverse and continue the downtrend.
If resistance is broken at this level, continuation is expected to hit the 1st take profit at 1951.25
Please note that my setups are not signals to trade but my own personal analysis and predicted direction. To enter a trade it must be validated by multiple different indicators and confluence factors.
Happy trading!!!
TP1 - 1951.25
TP2 - 1982.18
TP3 - 1988.01
SL - 1921.59
Always target the 1st take profit once the setup has been validated as it is always reached. This assertion is based on previous setups. Take note that this is a bearish down trend as confirmed by the SMA 200 and Money Flow Index.
A buy signal has been confirmed by the Money Flow Index as the RSI is in an oversold position. An engulfing candle will confirm a buy but will hit resistance at 1939.19 and possibly reverse and continue the downtrend.
If resistance is broken at this level, continuation is expected to hit the 1st take profit at 1951.25
Please note that my setups are not signals to trade but my own personal analysis and predicted direction. To enter a trade it must be validated by multiple different indicators and confluence factors.
Happy trading!!!
Trade active:
Resistance broken at 1939.18, testing support at 1942.49
Comment:
Trade closed