It's against the big trend in HKEX since it recovered above EMA 200 but it's still 4/5 on my rating card so I did a position shorting Razer to swing low.
RRR not great but good at 1.6 if I can ride through the swing lows since we will meet a small support later.
Key factors why I entered:
- At support turned resistance level
- Price rejection with...
Eth using EMA 20,50 as dynamic resistance line not breaking through, however we see signs that the bulls are somehow regaining it's foothold as price action and MACD histo. seems so.
Will be waiting to add positions.
At a very good support level where bears are taking profit and bulls might be coming back.
Waiting for bulls to come in. I am sticking to the rule of entering above EMA 200 on weeklies and dailies.
RRR is at 1.2 (which gives me positive expectancy) , if the trade goes well, might be able to trail to 2.
Sitting on my hands....