bearish evidence

29 ก.ย. 2019

When looking to the one hour chart i'm seeing that I missed the first oppertunity for a short trade but for me there is a new one. the first red arrow was my first chance of making a sell trade. this shooting star candle shows me strong rejection of the resistance level. (upper bleu line). the second arrow shows a engulfing candle wich is also a bearish sign to me. after these two signs, price broke the bleu area, coming back in to it and now is showing a shooting star again. It has a strong rejection on the same resistance level again and has also a lower high. So, first it rejects on this level, then makes a falls break out and gives a sign with the engelfing candle and now a few days later it rejects again with a lower high. That's a clear bearish sign to me. As alway when I trade this specific candle i'll put my entry a bit below de lower wick and stop loss a bit above.

It looks like price is trending down last weeks. But a kind of dubble bottum has formed arround the green lines. This could mean it stops trending down. That makes me think that my first take profit point will be a pretty strong support level. That's my favourit goal for this trade.

entry = 107.617
stop loss = 107.247
1 take profit = 106.682
2 take profit = 105.937

29 ก.ย. 2019

บันทึก

MY BAD! stop loss should be 108.247

29 ก.ย. 2019

บันทึก

whoops there are two mistakes. it's not the one hour chart but daily.