This one has been in a downtrend for quite some time. Price reached low of 3.00 Price bounced but ran into Resistance at 4.35 and the 50ema is also acting as Dynamic Resistance. Price has currently pulled back to both the Resistance levels mentioned above. At the pullback, we have a Bearish price rejection at resistance. The Stochastic is currently Overbought
Again, it doesn’t get old Downtrend + Pullback to resistance + Overbought Stochastic = Short trade entry
Entering trade short
Entry: 4.03 Stoploss: 4.60(-14.14%) Target: 3.00, +25.56%, 1.81 RR ratio
Trade closed: stop reached
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Stoploss: 4.60(-14.14%)
Trade active
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reEntry: 4.03 Stoploss: 4.60(-14.14%) Target: 3.00, +25.56%, 1.81 RR ratio