Trade Day Gameplay: Short Continuation

18 thg 4, 2020

Last trading day we had nothing, but sideways consolidation giving us mixed signals to go short or long.

After taking a look closer I notice that we still have a high probability of a short continuation.

Stochastics in Overbought condition suggests short position is high probability.

Fibonacci taken from the high point to lowest point of last trend shows us possible targets.

Suggested Stop Loss @ 1.9812, adjust 47 pips with ATR
Pivot Point @ 1.9687
Support @ 1.9562
TP1 @ 1.9458
TP2 @ 1.9361

Still no signs of any uptrend signals at the moment, but we will have to adjust to any gap up or downs when the market opens up.

Happy Hunting.

20 thg 4, 2020

Ghi chú

now that we have a confirmed downtrend, we should be looking for sell positions, wait for a retracement around 1.9621 or 1.9663, I highly recommend waiting for the moment, do not place any buys unless the pivot @ 1.9663 is broken, highly unlikely though.