Trade the TREND. market is still over all bearish
Recent rising wedge followed by head and shoulders pattern play
Price has been ranging between support and resistance, forming lower local lows and lower local highs
current support @ 3930 has been tested 7 times on the small 15m time frame and price is ranging downwards in a down trend channel
Short Entered at the resistance of the channel @ 3970 with stop loss at 4005 just above the next level of resistance
Exit : 3850 - 3800 depending on the evolving R of the trade
Moving averages continue to make lower lows as they converge and diverge in a bearish manner
R/R on this trade 3.65 @ EXIT price of 3850
Leverage used 1.28x bringing risk from 0.85% up to 1.08 %
Recent rising wedge followed by head and shoulders pattern play
Price has been ranging between support and resistance, forming lower local lows and lower local highs
current support @ 3930 has been tested 7 times on the small 15m time frame and price is ranging downwards in a down trend channel
Short Entered at the resistance of the channel @ 3970 with stop loss at 4005 just above the next level of resistance
Exit : 3850 - 3800 depending on the evolving R of the trade
Moving averages continue to make lower lows as they converge and diverge in a bearish manner
R/R on this trade 3.65 @ EXIT price of 3850
Leverage used 1.28x bringing risk from 0.85% up to 1.08 %
Comment:
Leveraged increased to x2 @ 3965 more contracts sold