RSI divergence , MACD crossover and my custom indicator points that we should see a pullback from here...
These is one reason not to enter the tread however ... no sign of weakness in price action yet and price action still looks like a bull flag...
I opened a short position at 2175 with stop at 2180.6
TP1 : 2167.5
TP2 : 2160.6
These is one reason not to enter the tread however ... no sign of weakness in price action yet and price action still looks like a bull flag...
I opened a short position at 2175 with stop at 2180.6
TP1 : 2167.5
TP2 : 2160.6
Trade closed manually:
Closed the trade at 2172 as I see a W pattern evolving which means we will see a upturn .. I may open another short position after the completion of the W pattern..
Comment:
Finally price action reached my reached ... but took much longer than I originally expected.... The nature of the indicator based on which I predicted the trade means the down swing could be deep...
