Today we have a short setup on Stocks.
Main items we can see on the chart.
a) The price is on huge lateral movement since March 2020
b) We can see 2 key support levels on the lateral movement
c) Currently, the price is on the edge of the inner support zone
d) There, we can see a clear corrective structure (yellow lines)
e) The next relevant level we can see is the based on the lateral movement that makes a convergence with the descending channel
f) We have set our pending orders as you can see on the chart; we will move our stop into Break Even when the price reaches the yellow lines
Remember: Trade Safe, protect your capital, and always understand what you are doing!
Main items we can see on the chart.
a) The price is on huge lateral movement since March 2020
b) We can see 2 key support levels on the lateral movement
c) Currently, the price is on the edge of the inner support zone
d) There, we can see a clear corrective structure (yellow lines)
e) The next relevant level we can see is the based on the lateral movement that makes a convergence with the descending channel
f) We have set our pending orders as you can see on the chart; we will move our stop into Break Even when the price reaches the yellow lines
Remember: Trade Safe, protect your capital, and always understand what you are doing!