MATIC Trade setup analysis - short
Hi there,
It has resistance at $0.9370 ofc it's not a high reliable unless it got reject from there once again, but the idea behind this short trade is, four pivots here we need to consider - volume,RSI,MACD, pattern formation
Volume : raising volume after rejecting from resistance is pretty much observed low for now which concludes low interest in current trend.
RSI : we can see the negative divergence on the RSI scale which is while price chart making higher highs the RSI is forming lower highs which indeed reflects the reducing of strength.
MACD : on the other hand MACD indicating the reducing power of short term/intraday bullish movement.
pattern formation : not just 1hr time frame but also the lower time frame - 5min , formed raising wedge pattern which indeed a bearish signal.
Based on all these I am about to open short trade on MATIC ofc my trades are always short term/Intraday. Just waiting for the market to confirm the price movement. I'll update your guys later over here when my trade got triggered and always remember one thing early opening and late closing of trades makes us suffer don't fall for it, patience is the key.
Disclaimer : I am not a financial advisor so trade upon your own decisions and I'm not responsible for your actions.
It has resistance at $0.9370 ofc it's not a high reliable unless it got reject from there once again, but the idea behind this short trade is, four pivots here we need to consider - volume,RSI,MACD, pattern formation
Volume : raising volume after rejecting from resistance is pretty much observed low for now which concludes low interest in current trend.
RSI : we can see the negative divergence on the RSI scale which is while price chart making higher highs the RSI is forming lower highs which indeed reflects the reducing of strength.
MACD : on the other hand MACD indicating the reducing power of short term/intraday bullish movement.
pattern formation : not just 1hr time frame but also the lower time frame - 5min , formed raising wedge pattern which indeed a bearish signal.
Based on all these I am about to open short trade on MATIC ofc my trades are always short term/Intraday. Just waiting for the market to confirm the price movement. I'll update your guys later over here when my trade got triggered and always remember one thing early opening and late closing of trades makes us suffer don't fall for it, patience is the key.
Disclaimer : I am not a financial advisor so trade upon your own decisions and I'm not responsible for your actions.
Trade active:
Like I mentioned in the above analysis, now it is at my first target zone.
I'm sorry i haven't updated you guys when the trade triggered the reason is I have been sick for last three days even i missed this trade. Ofc let's hunt for the next trade nothing to get disappointed here.
I'm sorry i haven't updated you guys when the trade triggered the reason is I have been sick for last three days even i missed this trade. Ofc let's hunt for the next trade nothing to get disappointed here.