Shiba Inu good for a short trade - Intraday
cryptocurrencies are in the correction phase for the last few trading sessions on a daily timeframe.
Shiba Inu has fallen with good volumes. The volume trend suggests that the selling pressure is high.
The price is trading below 20ema. RSI is weak. MACD on 15min. the timeframe is in negative territory and on 5min. the timeframe has crossed below the Signal line.
SL- Slightly above 20ema
Target, nearest swing low.
Risk reward is attractive at around 3.
Shiba Inu has fallen with good volumes. The volume trend suggests that the selling pressure is high.
The price is trading below 20ema. RSI is weak. MACD on 15min. the timeframe is in negative territory and on 5min. the timeframe has crossed below the Signal line.
SL- Slightly above 20ema
Target, nearest swing low.
Risk reward is attractive at around 3.
Note
The price fell a little more while I wrote the post, but it still looks good. if it retraces back a little more, a better opportunity.Note
SL HitTrade closed: stop reached
This was just an observation and it failed.
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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.