Hi All,
It has been some time since I have posted a public analysis.
We are currently at resistance at the 7250 region. Difficulty breaking this does not bode well as the next order block has proven to be historically a stronger resistance. There are two primary trend lines that im looking to have respected. We could see a retrace to that 8K region however this seems unlikely.
We already tried to break the channel downwards once, the movement back in likely liquidated shorts. I believe this current minor pump to be a standard Bull trap.
Histogram and MACD weakening.
Volume is very low.
20,50 and 200 MA's are hugging their respective trend lines. Doesn't look promising for a break to the upside.
Lastly, we are looking to break to the downside of the rising channel a classic reversal pattern as well as the Ichimoku cloud.
Short entry @ 7149, Target @ 5671 (Next order block leg down).
Stop @ 7480. Can widen this if you please above 7520 region.
Thanks guys, leave a comment and let me know your thoughts,
Traders-Corner
***
Any trading advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the information provided you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should seek professional personal financial advice before making any financial or investment decisions.
All investment and trade decisions, no matter how well investigated, involve risk.
***
It has been some time since I have posted a public analysis.
We are currently at resistance at the 7250 region. Difficulty breaking this does not bode well as the next order block has proven to be historically a stronger resistance. There are two primary trend lines that im looking to have respected. We could see a retrace to that 8K region however this seems unlikely.
We already tried to break the channel downwards once, the movement back in likely liquidated shorts. I believe this current minor pump to be a standard Bull trap.
Histogram and MACD weakening.
Volume is very low.
20,50 and 200 MA's are hugging their respective trend lines. Doesn't look promising for a break to the upside.
Lastly, we are looking to break to the downside of the rising channel a classic reversal pattern as well as the Ichimoku cloud.
Short entry @ 7149, Target @ 5671 (Next order block leg down).
Stop @ 7480. Can widen this if you please above 7520 region.
Thanks guys, leave a comment and let me know your thoughts,
Traders-Corner
***
Any trading advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the information provided you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should seek professional personal financial advice before making any financial or investment decisions.
All investment and trade decisions, no matter how well investigated, involve risk.
***
Giao dịch đang hoạt động
Trade open.Ghi chú
4 Hours till daily close. If we finish under, at the time of writing this its looking like we are heading down. Ghi chú
Clear break happened, we have come up for the retest. If this trade is to be validated we should see it dump in the coming days. Volume is very low. Đóng lệnh: dừng lỗ
Trade invalidated.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.