Hi guys, this is my first analysis for publishing my idea to other traders.
The weekly candle was Bullish, even though I went for Short
The daily candle was Bearish as for Friday, other days were Bullish
I analyzed using Top-Down from H4 to H1, and Entry TF is M15.
H4: I find Trend using Triple EMA (9, 20, 50). Price was above 50 EMA, but the price also held at support @ 9EMA. RSI was overbought (68,80), another confirmation that looks for SHORT, Stochastic was Bearish as well. I use ADX just to check whether has a Trend or Ranging, ADX was 50, which means Uptrend was going.
H1: ADX was 25.677, still Uptrending, Price was going slowly under the 50EMA in that meantime 9EMA was crossed over 20EMA another Bearish confirmation
I found the Head & Shoulders Pattern, I waited to break the neckline. RSI was 47.75, Stochastic was Bearish Crossover as well, MACD was Bearish, the histogram was Big Red.
M15: for Entry and Exit, I use Pivot Points. Entry was @ Pivot Points & TP was @ Pivot Points S1
Let's discuss my fails and we could learn from it. Cheers!
The weekly candle was Bullish, even though I went for Short
The daily candle was Bearish as for Friday, other days were Bullish
I analyzed using Top-Down from H4 to H1, and Entry TF is M15.
H4: I find Trend using Triple EMA (9, 20, 50). Price was above 50 EMA, but the price also held at support @ 9EMA. RSI was overbought (68,80), another confirmation that looks for SHORT, Stochastic was Bearish as well. I use ADX just to check whether has a Trend or Ranging, ADX was 50, which means Uptrend was going.
H1: ADX was 25.677, still Uptrending, Price was going slowly under the 50EMA in that meantime 9EMA was crossed over 20EMA another Bearish confirmation
I found the Head & Shoulders Pattern, I waited to break the neckline. RSI was 47.75, Stochastic was Bearish Crossover as well, MACD was Bearish, the histogram was Big Red.
M15: for Entry and Exit, I use Pivot Points. Entry was @ Pivot Points & TP was @ Pivot Points S1
Let's discuss my fails and we could learn from it. Cheers!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.