The price reached the resistance zone
formed by SMA100 and SMA200. We got a reversal candlestick
is in the overbought zone. MACD
lines support the upward movement, but histogram starts falling. These signals tell us about possible reversal from the resistance zone
and as a result, we have a new sell opportunity. Entry level should be below the low of the signal candle with stop orders above the high of the signal candle. The market can correct the upward movement and fall to 1300.00 support level
. This zone can be used for fixing potential profit.
If the price breaks the resistance zone
and moves above 1312.00 level, this trading idea won't be workable. We will need to wait for new signals.