MSFT | Bearish trend to continue till support zone around 213 t

#Week10-11-Strategy-1&2

BEARISH INDICATOR (DEC 30)

1. Bearish LH and LLs
2. On Fib of recent Swing High and Low, Price action is staying between FIB level 38.2% and 23.6%
3. Price is expected to test significant support line @ 213.
4. RSI does not show any divergence so a Bearish trend is expected in a short term

BULLISH INDICATOR (DEC 30)

1. The bearish upped trend line got broken but the pervious LH didn't get broken
2. Price may test the support level of 232 - 233 at a Fib level of 23.6%. If successful then the price can try to reverse here.


PREDICTIONS
1. Bearish trend is expected to continue and may test Support regions around 232, then 219 and finally test significant support of 213.80.
2. Will SHORT with trailing SL and prepare for trend reversal around Significant Support of 213.80.

BIAS 1 = SHORT - PLAN 1 (Buy @ Market price)

BIAS 2 = Check whether Long or Short around a price of 213 to 215 - PLAN B.


TRADE PLAN
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PLAN A: SHORT

EN1: 238.82 (@ Market)
SL1: 246.20
TP1: 229.84 - RR: 1.0 - Lt: 0.5

EN2: 238.71 (@ Market)
SL2: 248.28
TP2: 223.87 - RR: 1.4 - Lt: 0.5

PLAN B: Long @ Market price
(Will wait for Plan-A to conclude first)

EN1: 215 (Check the entry Long or Short option before entry)