MP1.ASX_Bearish Pullback Trade_Short

ENTRY: 6.53
SL: 7.41
TP1: 5.36
TP2: 4.81

- ADX>25
- Daily RS -ve
- Daily FFI -ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Breakdown on 21 Apr 2022 with volume before going into range and pullback to 20EMA.
- 30-31 May 2022 bearish engulfing candle near 20EMA and then went below 10EMA on 1 Jun 2022.
- Entry based on today >3% rebound off 10EMA with volume.

Comment:

- Shift SL: 6.29 (breakeven)
- 7 to 9 Jun 2022 candle setup looks like a possible reversal

Trade active:

- Take 50% partial profit at 5.36
- SL: 6.29
- New TP2: 5.13
- New TP3: 4.22

Trade closed manually:

- Closed position at 5.37