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1. There is a resistance zone (Monthly).
2. In past Price has reversed from this zone.
3. There are four bearish candels with long wicks. Generally Long Wicks from north to south indicates Market Does not have enough steam to push upward.
4.This trade is little risky trade howwever there are chances of price hitting the target
5. RSI is moving downwards.
6. The overall trend is bullish in daily time frame. However in this setup we can take benifit of the retracement.
4.There is good risk reward ratio. There will be always be good risk reward ratios in the Ideas that that I'll share.
5.Short is the call
6. Idea is published for education purposes only. Please feel free to ask questions, give constructive feedback and your views. Please hit on like, it's an incentive to me and motiviates me to share more setups.
2. In past Price has reversed from this zone.
3. There are four bearish candels with long wicks. Generally Long Wicks from north to south indicates Market Does not have enough steam to push upward.
4.This trade is little risky trade howwever there are chances of price hitting the target
5. RSI is moving downwards.
6. The overall trend is bullish in daily time frame. However in this setup we can take benifit of the retracement.
4.There is good risk reward ratio. There will be always be good risk reward ratios in the Ideas that that I'll share.
5.Short is the call
6. Idea is published for education purposes only. Please feel free to ask questions, give constructive feedback and your views. Please hit on like, it's an incentive to me and motiviates me to share more setups.
Trade closed: target reached
Comments
Look to the left on the chart for support and resistance levels
Look at long wicks and trade accordingly.
Prices generally respects support and resistance levels
So what do you learn from these three setups apart from technical analysis.
Sure will share more ideas and stratergies. Thank you for your support.