Here is a pretty self explanatory Matic short setup chart with levels marked.
Even though Matic is currently in an uptrend, I spotted a bearish rising wedge pattern, which can potentially break down.
Note: As per trading best practice, it's best to take a trade after completion of the pattern (as of now, the pattern is still not valid because the wedge is still not broken), but the risk: reward is decent, and there is a nasty wick (bearish) on the 1H and 4H chart, which just convinced me to take the trade.
Disclaimer: None of this is financial advice. If you wish to take the trade, make sure you are first comfortable of losing <x> amount if your stoploss is hit. Please manage your risk accordingly.
Happy trading. :)
Even though Matic is currently in an uptrend, I spotted a bearish rising wedge pattern, which can potentially break down.
Note: As per trading best practice, it's best to take a trade after completion of the pattern (as of now, the pattern is still not valid because the wedge is still not broken), but the risk: reward is decent, and there is a nasty wick (bearish) on the 1H and 4H chart, which just convinced me to take the trade.
Disclaimer: None of this is financial advice. If you wish to take the trade, make sure you are first comfortable of losing <x> amount if your stoploss is hit. Please manage your risk accordingly.
Happy trading. :)
Trade closed: stop reached