Last weeks weekly showed clear rejection and we seemed to have tested the kijun. If this is true we should see a continuation of this downside movement this coming week. Short term target being 27498 and longer term, the monthly flat kijun level of 24912.
Entry: sell on daily close below 28982
SL: 31256
TP1: 27498
TP2 : 24912
Did i mention that risk management is king in trading?!. . . .risk half of what your mentor said you should risk:)
Entry: sell on daily close below 28982
SL: 31256
TP1: 27498
TP2 : 24912
Did i mention that risk management is king in trading?!. . . .risk half of what your mentor said you should risk:)
Note
We have not been triggered yet. Price went back to weekly Tenkan. So we wait and see how price reacts tomorrow at this level at day end.We could potentially have a better price entry..so we wait.Trade active
We got triggered on close yesterdayNote
I dnt like way this trade is going. it seems the market is respecting 28982 on the monthly. I would just keep the trade until invalidation at SL. . .Trade closed: stop reached
We reached the Monthly Tenkan and got stopped out. So this could be a test of the Tenkan or it could signal a change of fortunes(bulls) for the MNP. I favor former and would wait for a sell signal from the weekly.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.