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 - descending trend line - RSI is bearish - STOP goes above the 200 moving average - once target is met move stop to break even and take off profit and let the rest run