Anticyclical Longposition possible?
For my risk-Lovers: U could perhaps try an anticyclical short/mid-term Long Position at the illustrated supportlevel @ ~0,7235-0,714.
There are some signals which underline a temporary upmove:
-The RSI is diving through it s oversold-section
-The BBs are stressed out
- The supportzone is also based near the flags max. tp
Ideally such a countertrade / consolidation is reaching to themin consolidation Level fibo 38,2 @ ,7286. The SL for this trade should be installed near below the last significant Low at 0,714. Here you have a really nice Chance-risk-Ratio.
In a minor tf we see a bullish wedge, so it is not vlear if we really dip into the illustrated Support Level:
I always prefer PROcyclical trades, for example for me the break through the supportlevel seems to be a nice shortchance in trend direction.
Happy Holidays
shortterm view:
There are some signals which underline a temporary upmove:
-The RSI is diving through it s oversold-section
-The BBs are stressed out
- The supportzone is also based near the flags max. tp
Ideally such a countertrade / consolidation is reaching to themin consolidation Level fibo 38,2 @ ,7286. The SL for this trade should be installed near below the last significant Low at 0,714. Here you have a really nice Chance-risk-Ratio.
In a minor tf we see a bullish wedge, so it is not vlear if we really dip into the illustrated Support Level:
I always prefer PROcyclical trades, for example for me the break through the supportlevel seems to be a nice shortchance in trend direction.
Happy Holidays
shortterm view:
Note
shortterm nearly reached tp Note
we dipped to the anticyclical Long-entry area Note
Note
aha Trade closed: target reached
done :-) Note
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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.