The good times came and now they are on the verge of ending for our beloved PSG. On the monthly September and October were candles that seemed to have headed for the Tenkan in a typical break and retest manner. Now that we touched Tenkan and got our rejection we should be headed south. The weekly started its bearish dive early May and hit rock bottom end of August. In typical fashion we saw a retracement of this downward move to the weekly Kijun area which is the 50% retracement area. On the daily which is were we will enter, consolidation started from 16 October signalling loss of the upward momentum we had witnessed.Friday's close was somewhat of a hanging man, a good signal for bearish momentum coming,we could even gap down on Monday, but we need confirmation. So we only enter when the daily closes under 23163.
Enter: On daily close below 23163 enter 2 position
TP 1: 21796
TP 2: 20000
Risk management keeps us in the game!....
Enter: On daily close below 23163 enter 2 position
TP 1: 21796
TP 2: 20000
Risk management keeps us in the game!....
Comment:
Remember we wait for a daily close below our level (23163) so we have not been triggered yet.
Comment:
We still have not been triggered in yet.
