Price has reached a clear level of resistance (supply). A good Risk to Reward (1.2) if taken on the daily chart. Wait for more bearish evidence before entering.
descending channel
50,200 average are bearish
hoping for a lower low lower close candle today.
ride the trend down and move stop accordingly
rsi below 50
Hi all,
I only take positions on the daily/weekly chart when trading equity as they are not open 24/7 and I find my win rate is higher historically. I have taken this setup.
A simple setup
Reasons to go short
- Rejection candle on the 50MA
- support at 889 level
- descending trendline
- candle on the 06th Jan 2017 broke through previous days candle
-...
Hi all,
I only take positions on the daily/weekly chart when trading companies as they are not open 24hr and I find my win rate is higher historically
ONLY If this weeks candle breaks the previous weeks candle will I take this trade.
Reasons for to go short
- moving averages are bearish
- price has moved below the 200 MA
- 50 MA is being respected
-...
Hi all,
I only take positions on the daily/weekly chart when trading equity as they are not open 24/7 and I find my win rate is higher historically. I have taken this setup.
Reasons to go long
- 200 MA is being respected
- support at 889 level
- ascending channel touches support level at the 889 level
- candle on the 12/12/2016 broke above previous weeks...
Hi all,
I only take positions on the daily/weekly chart when trading companies as they are not open 24hr and I find my win rate is higher historically
Reasons for to go short
- moving averages or bearish
- old support is now resistance
- descending channel
- RSI is bearish
- candle on the 4th Jan 2016 broke below candle (indecision) on the 3rd Jan 2016
-...
