Hello traders. This is an almost identical analysis I made on the previous sell off at this resistance rejection.
MACD and signal are set to make a huge cross with RSI making a crescent moon reversal at the overbought breach zone.
3 take profit opportunities at these levels as we can see clear play outs at supports. Load up on 3 entries. Take profit 1 and allow for a potential support break for take profit 2 and 3. Close out in profit with second entry with a significant pivot and set 3 entry stop loss to entry or set stop loss to higher support pending support 2 breaks and pivots before hitting take profit 3.
This is a skilled entry so stay on top of your take profit levels with stop losses on other entries.
Please comment with thoughts and ideas. Thank you.
MACD and signal are set to make a huge cross with RSI making a crescent moon reversal at the overbought breach zone.
3 take profit opportunities at these levels as we can see clear play outs at supports. Load up on 3 entries. Take profit 1 and allow for a potential support break for take profit 2 and 3. Close out in profit with second entry with a significant pivot and set 3 entry stop loss to entry or set stop loss to higher support pending support 2 breaks and pivots before hitting take profit 3.
This is a skilled entry so stay on top of your take profit levels with stop losses on other entries.
Please comment with thoughts and ideas. Thank you.
Trade active:
TP 1 hit