RSI divergence , MACD crossover and my custom indicator points that we should see a pullback from here... These is one reason not to enter the tread however ... no sign of weakness in price action yet and price action still looks like a bull flag... I opened a short position at 2175 with stop at 2180.6
TP1 : 2167.5
TP2 : 2160.6
Trade chiuso manualmente
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Closed the trade at 2172 as I see a W pattern evolving which means we will see a upturn .. I may open another short position after the completion of the W pattern..
Commento
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Finally price action reached my reached ... but took much longer than I originally expected.... The nature of the indicator based on which I predicted the trade means the down swing could be deep...
Commenti
johninthai
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I do not see any reason to short yet...... The FED is still on the buy side :)
PerpetualLearner
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why do you think FED on buy side? Should have acted on your point yesterday...