Many bearish indicators and resistance on the 4 hour chart. Any sort of upward momentum seems to be weak, and quickly falls back down. Long term still bullish on market, but I believe we see a large dip, that possibly lasts awhile first. Comments on the chart itself. Only opinions, and not financial advise. DYOR.
Comment:
15 min chart now also confirm short entry, as price crosses below the Kijun-Sen on the Ichimoku Cloud indicator. The lagging indicator also shows we are very much overall bearish in the recent timeline
Trade active:
As expected, the support finally broke. I like trailing stop strategy here. Take profits on half if you so choose,or very tight trailing stop on half is my preferred. I like to give a chance to run big. As always, not a financial advice, only my opinion. Enjoy!
Trade closed: stop reached:
Played out as expected, set a trailing stop loss before sleep last night which triggered at 6957. I still believe lower, and may enter a new short, but it would be better to do so on a bounce with strong signals. Always remember, this is not a financial advise, just one dude's very great opinions :-)
