• Trend neutral to bullish
• Bulls need to be cautious around current levels as we got contradicting signals
• While prices are printing new highs, MACD is not so probable negative divergence
• MACD histogram declining, which negates the bullish picture
• 2000 psychological level tough barrier , bulls still not able to break it for 3 consecutive weeks, signaling lack of conviction
• From a risk reward perspective, it is more appealing to go short at this level with a close stop targeting Fibonacci retracement levels, the 38.2% and 50% at 1933 and 1900 respectively explained below
• Short at: 1990 SL: 2010 (previous high) - TP: 1930 and 1900 - Risk/reward: 3:1
Good Luck
• Bulls need to be cautious around current levels as we got contradicting signals
• While prices are printing new highs, MACD is not so probable negative divergence
• MACD histogram declining, which negates the bullish picture
• 2000 psychological level tough barrier , bulls still not able to break it for 3 consecutive weeks, signaling lack of conviction
• From a risk reward perspective, it is more appealing to go short at this level with a close stop targeting Fibonacci retracement levels, the 38.2% and 50% at 1933 and 1900 respectively explained below
• Short at: 1990 SL: 2010 (previous high) - TP: 1930 and 1900 - Risk/reward: 3:1
Good Luck
Ramzi Abou Abdallah, CFTe, CMT
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading