DHI
Daily chart analysis
DHI is currently in a downtrend under the 200 ema
After reaching low of 60.00, pulled back and broke above resistance level at 76.00
The breakout is deemed a failed breakout after price falls back below 76.00
Price has the followed by making a series of lower lows creating a downtrend line
Price is currently at resistance from down trendline, an area of value.
This is my cue to enter trade short.
Entry: 71.28
Stop loss: 78.39
Target: 60.18, +15.57%, 1.56 RR ratio
Daily chart analysis
DHI is currently in a downtrend under the 200 ema
After reaching low of 60.00, pulled back and broke above resistance level at 76.00
The breakout is deemed a failed breakout after price falls back below 76.00
Price has the followed by making a series of lower lows creating a downtrend line
Price is currently at resistance from down trendline, an area of value.
This is my cue to enter trade short.
Entry: 71.28
Stop loss: 78.39
Target: 60.18, +15.57%, 1.56 RR ratio
Trade closed: stop reached:
Stop loss: 78.39