after our bull flag failed yesterday, i have to change my short term analysis for a short on the 1 hour chart,
ON THE 1H chart we are in a micro downtrend, 2 or more lower highs/low
we have a sell signal on my indicator and it got triggered when we broke previous pivot at $7436,
SHORT : let see how price will react and if it will retest and break $7300. will be looking for a short opportunity if we do so ( specially because how accurate and strong the indicator is when it triggers) but we do not take trades based on indicator we only get an overall opinion, we will short if $7300 break and a short pattern forms. Target will definitely be +/- $7000 since on the daily we are still in an uptrend,
LONG: for a day swing i am currently not looking at a long position with the current pattern, could change my mind if we break the downtrend lines and break previous support at $7613, target will be daily 200 ema at +/- $7889,
be safe tradres
ON THE 1H chart we are in a micro downtrend, 2 or more lower highs/low
we have a sell signal on my indicator and it got triggered when we broke previous pivot at $7436,
SHORT : let see how price will react and if it will retest and break $7300. will be looking for a short opportunity if we do so ( specially because how accurate and strong the indicator is when it triggers) but we do not take trades based on indicator we only get an overall opinion, we will short if $7300 break and a short pattern forms. Target will definitely be +/- $7000 since on the daily we are still in an uptrend,
LONG: for a day swing i am currently not looking at a long position with the current pattern, could change my mind if we break the downtrend lines and break previous support at $7613, target will be daily 200 ema at +/- $7889,
be safe tradres