1) RSI minor divergence
-----> holding position as long as ROC stays -ve
2) MACD Divergence starting to form
------> Will confirm holding position
-------------------------------------------------------
Exit Strategy ( Good Scenario)
As its a -ve position, we'll do a fair 50% close on any of the following channels in scaled orders probably 2-5% per 2 hours
1) RSI touching the original +ve Divergence slope line (uptrend channel)
2) Price testing past support on 65xxsh
-----------------------------------------------------
Exit Strategy ( Bad Scenario )
ROC Slope starts to increase rapidly, not testing past support anywhere soon.
Scaled Stop Loss 50% between 6680-6700 :( and short again when a second major divergence occurs on 6h or 2h charts.
-----> holding position as long as ROC stays -ve
2) MACD Divergence starting to form
------> Will confirm holding position
-------------------------------------------------------
Exit Strategy ( Good Scenario)
As its a -ve position, we'll do a fair 50% close on any of the following channels in scaled orders probably 2-5% per 2 hours
1) RSI touching the original +ve Divergence slope line (uptrend channel)
2) Price testing past support on 65xxsh
-----------------------------------------------------
Exit Strategy ( Bad Scenario )
ROC Slope starts to increase rapidly, not testing past support anywhere soon.
Scaled Stop Loss 50% between 6680-6700 :( and short again when a second major divergence occurs on 6h or 2h charts.
