The 14SMA and 5EMA have crossed and todays candle is the pullback. There is a decent trendline and the momentum indicator and macd are all in the correct place. I will wait for the close tonight but believe this to be a possible SELL trade.
Trade active:
SELL trade entered will small wiggle room above trend line.
Trade closed: stop reached:
Disappointing trade closed. As a result, I have adjusted the settings on the MACD to slow that down. Another review based on the new settings would have negated the trade. Another good point of this loss is to keep your stops as close as possible. Having a trend line helps so that you don't always have to put them above the most recent high.