Hi Traders!
The market is in a strong downtrend.
The "Multiple Sell Point", as we call it, consists of three parts:
> The nearest Resistance is there and that means that selling pressure could get in;
> the 200MA as a guide line, because the market often touches it and bounces back;
> the top of the bearish wedge, which is also a trend continuation pattern.
We recommend to sell the market at the "Sell Point" with a risk-to-reward ratio of 1 to 2.
Thanks and good luck :)!
The market is in a strong downtrend.
The "Multiple Sell Point", as we call it, consists of three parts:
> The nearest Resistance is there and that means that selling pressure could get in;
> the 200MA as a guide line, because the market often touches it and bounces back;
> the top of the bearish wedge, which is also a trend continuation pattern.
We recommend to sell the market at the "Sell Point" with a risk-to-reward ratio of 1 to 2.
Thanks and good luck :)!
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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.