I only take positions on the daily/weekly chart when trading companies as they are not open 24hr and I find my win rate is higher historically
ONLY If this weeks candle breaks the previous weeks candle will I take this trade.
Reasons for to go short
- moving averages are
- price has moved below the 200 MA
- 50 MA is being respected
- STOP goes above the 200 moving average
- once target is met move stop to break even and take off profit and let the rest run