Hi, traders!
Pretty interesting chart on this paper.
let's take a look.
1. The stop of the global short trend on 09.03.2020. We got a strong level on 24.02
2. From this day until 14.04, we began to gain a short position channel between 24 and 40.
3. Why short? First of all, because since March 30 we have not been going above the middle of the channel. Second, false breakouts gave us the down momentum without buying back the instruments.
4. Then - a fall down. The historic low of 1993 is broken and we're at all-time low.
5. On 20.04 the next short trend stopped.
What do we see?
6. Instrument was pulled up on big bars with gaps upwards but we couldn't stay in the long zone.
7. Aggressive sales again.
8. Pressure to the level.
9. No buyings.
If we can break through and 12.3 - the instrument can fall well.
It looks very good on short, unless, of course, some news or an injection of money breaks the model.
Trade active:
I'm right! waiting the breakdown.
Trade closed: target reached