As a top got confirmed together with change in momentum, negative crossing of stochastics, i'm looking towards next levels.
446 as a support and bottom trendline.
Area around 438 again as support and bottom trendline.
A short position should be held as long no bottoming has formed around those levels.
Purpose is to let profits run.. everyone wants that.
So the Exp. MA 3 and 8 are helping to determine the trend. A close under Ema 3 is a strong downtrend.
During the trend the Ema 8 can be tested. As long no close occurs above the Ema 8 the short position remains.
Note that a strong reversal candlepattern might also trigger a take profit.
446 as a support and bottom trendline.
Area around 438 again as support and bottom trendline.
A short position should be held as long no bottoming has formed around those levels.
Purpose is to let profits run.. everyone wants that.
So the Exp. MA 3 and 8 are helping to determine the trend. A close under Ema 3 is a strong downtrend.
During the trend the Ema 8 can be tested. As long no close occurs above the Ema 8 the short position remains.
Note that a strong reversal candlepattern might also trigger a take profit.