In spite of the strong upward movement in the structure of the uptrend and bullish signals from MACD and DMI, I would like to search for sell opportunities.
The market has made a good upward movement, and now it looks overbought. RSI line reached the overbought zone, and we should be ready to see a pullback soon. If you want to buy, you had to do it based on a breakout signal above the local downtrend line. Now it is time for selling.
The price is not far from 1558.00 resistance level. The market reversed from it, and we saw the downward movement. The same pattern we will be able to get this time. The market is overbought, and it is not far from the strong resistance zone. If the market gives us confirmed reversal signals, it will be possible to use them to catch the pullback.
Do you think it is a good plan, or you want to search for buy opportunities only? Share your thoughts in comments, let's discuss!
The market has made a good upward movement, and now it looks overbought. RSI line reached the overbought zone, and we should be ready to see a pullback soon. If you want to buy, you had to do it based on a breakout signal above the local downtrend line. Now it is time for selling.
The price is not far from 1558.00 resistance level. The market reversed from it, and we saw the downward movement. The same pattern we will be able to get this time. The market is overbought, and it is not far from the strong resistance zone. If the market gives us confirmed reversal signals, it will be possible to use them to catch the pullback.
Do you think it is a good plan, or you want to search for buy opportunities only? Share your thoughts in comments, let's discuss!
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