MATCH is at an attractive level for a short.
BUT
- be patient for a set up.
- there has been signs of exhaustion, first on April 27, second on May 8, and third on may 22, however,
- the first one has been reversed May 5
- the second one has been reversed on May 18
- and the third one has not been coupled with the RIGHT price action, and was above the important support level.
- the first two were actionable, meaning that I would have traded them, but I hadn't been closely watching until the third sign.
- If I had, it would have been a very small loss, but I would consider them good trades.
The current price has reached a strong resistance, but this should never be the sole reason to short.
I am waiting for a sign of exhaustion to short, may it be a divergence, a price action, or my custom indicator.
But there is no need to get involved just yet.
BUT
- be patient for a set up.
- there has been signs of exhaustion, first on April 27, second on May 8, and third on may 22, however,
- the first one has been reversed May 5
- the second one has been reversed on May 18
- and the third one has not been coupled with the RIGHT price action, and was above the important support level.
- the first two were actionable, meaning that I would have traded them, but I hadn't been closely watching until the third sign.
- If I had, it would have been a very small loss, but I would consider them good trades.
The current price has reached a strong resistance, but this should never be the sole reason to short.
I am waiting for a sign of exhaustion to short, may it be a divergence, a price action, or my custom indicator.
But there is no need to get involved just yet.
Comment:
Not yet, strength dwindling but not gone.
Order cancelled:
seems ripe to short. want to short, but cannot find a good RR entry. If it had gone higher before showing weakness, it would have been much better.