This is the setup for sell limit or if you want to sit and watch the market.
About this setup, why did I sell at the top like that.
* In trading, waiting is important.
1. current price is falling but facing strong resistance (horizontal bar) but it has had 4 times to touch and rebound.
2. The yellow trendline has 2 touches and if touching again it is likely to fall.
3. Price is being supported by KC and EM200 (there are 2 times the price was supported).
>>> In my opinion, the price will bounce up to near the peak then return to form a bearish S&H model, and a false breakthrough.
>>> All we need to do now is wait for the entry area and the reversal signal to enter.
Wish everyone good luck and success.
About this setup, why did I sell at the top like that.
* In trading, waiting is important.
1. current price is falling but facing strong resistance (horizontal bar) but it has had 4 times to touch and rebound.
2. The yellow trendline has 2 touches and if touching again it is likely to fall.
3. Price is being supported by KC and EM200 (there are 2 times the price was supported).
>>> In my opinion, the price will bounce up to near the peak then return to form a bearish S&H model, and a false breakthrough.
>>> All we need to do now is wait for the entry area and the reversal signal to enter.
Wish everyone good luck and success.