As a top got confirmed together with change in momentum, negative crossing of stochastics, i'm looking towards next levels. 446 as a support and bottom trendline. Area around 438 again as support and bottom trendline.
A short position should be held as long no bottoming has formed around those levels. Purpose is to let profits run.. everyone wants that. So the Exp. MA 3 and 8 are helping to determine the trend. A close under Ema 3 is a strong downtrend. During the trend the Ema 8 can be tested. As long no close occurs above the Ema 8 the short position remains. Note that a strong reversal candlepattern might also trigger a take profit.
Comments
Dutchy
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Close above Exp. ma 8.
I closed my short with 1pnt aex profit.
Better safe than sorry.
Looking for new entree.
BBtrade618
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Good analysis, looking for buying power on begin of this week
I closed my short with 1pnt aex profit.
Better safe than sorry.
Looking for new entree.