Get started

Short-trading

The Bears may take over the market this weekEUR/USD is still in a bearish trend if you look at the weekly chart. However, the last 2 weeks have been tricky for the bulls due to a "risk on" market mood - due to the reduced fear associated with Omicron. But, I still think there is more room for bears, because the previous week has already included all the positive information in the price. So, from a technical point of view, you can enter a short position if the upper channel and the double top are breached (in which case we would have double confirmation to enter the short position).
Short
by merjemascerija
8
MELI Analysis showing possible drop.1d Time-Frame Analysis Lets start with the bigger time-frame, with the bigger picture. NASDAQ:MELI is at level 2 rise, meaning it's missing one more leg to the upside. Then, why short this? Just checked the cycles and I see that MELI does level 1 rise, retrace, level 2 rise, M formation, drop. So instead of level 3 being the peak formation before the reversal, level 2 is the peak of the cycle, and now we are in level 2 with an M formation! 4h Time-Frame Analysis 4h time-frame seems to be a copy paste of 1d time-frame. We can see the cycle to the downside, with only 2 levels and the second level being the peak formation, and now we can see two levels to the upside, with this level 2 being the possible peak formation. Trade light Be careful guys, trade light. I'll set my SL at 1918.59, because if price touches that price level, the M formation will be possibly invalidated. Though, I'll wait for the close of the candle to be sure I'm not closing a stop-hunt rise. On the other hand from 1874.80 to our SL we have 2.34%, so playing big would mean a big loss. I will use a 2.5% of my entire account. Take Profits Close 30% at 1742.83 Close 35% at 1674 Close 35% at 1583 Happy trading!
CAPITALCOM:MELIShort
by chutireality