Really looking for price to get into our discount zone which is the area between the purple (89 week sma
) and the yellow (89 day sma
) to make a trade in the direction of the trend. However, this is an exhaustion candle here with the red arrow. This indicates the market testing new higher highs and then closing much lower than the high. The market didn't like those high prices and got exhausted.
Small opportunity but nevertheless an opportunity.
One could sell the futures
contract or short the call option for a more conservative option (Pun intended)!
trading involves series risk of financial loss and is not suitable for every investor.