This idea is based on a support/resistance zone with technical indicators such as RSI see bearish divergency formed and 1D Doji candle .
In addition with unemployment data being published and overall look of the oversold market and signs of recession I am opening a short position, please do not take it as a trading advise it's just my idea :) The s/l above the red zone and t/p at support as shown, 2.8 profit ratio!
Comment
⋅
s/l moved to opening position and awaiting action, see my latest analysis 1H update on this
Trade closed: stop reached
⋅
the price has gone back to my opening position, still very bearish on the indexes and will reopen my short on Monday
I agree, hope your position wasn't to big. Great opportunity in front of us. Take care. Cheers
lb-counts
⋅
@Divergencify, hello thanks for the comment :) I have partly taken some profits on 24th Jan amd moved my s/l to the opening position avoiding any losses, I have reopened my short position last week with s/l and t/p as previously, check out the weekly candle indicating reverse of the trend
lb-counts
⋅
giotaylor1000
⋅
Good idea and I have it hitting 7,650 atleast before a rested back up. Fingers crossed