CHZ is at a resistance zone from previous high. Trying to break that resistance but volume is diminishing, so I think it not going to make it. Also BTC and equities are down because of strong dollar
I'm entering a short position:
- Price at resistance zone
- High volumen but diminishing. So upward movement losing strength
- Entry point at 0.2466
- SL 1 ATR above local high at 0.2705
- TP at 0.1345, where is a support zone (resistance turn support) from june
I'm entering a short position:
- Price at resistance zone
- High volumen but diminishing. So upward movement losing strength
- Entry point at 0.2466
- SL 1 ATR above local high at 0.2705
- TP at 0.1345, where is a support zone (resistance turn support) from june
Trade closed: stop reached:
Stopped out. Daily candle with high volume, so trend looks like changing direction.