Looks like bearish trend is continuing over 1 day timeframe. So taking SHORT trade is in order.
Values are mentioned on the chart.
Values are mentioned on the chart.
Comment:
Remember that I'm considering a bit longer duration trade which may be spanning over 2 to 3 days. Therefore, it is not for 4 Hr or even one day trade; although chart is on 4H scale. Otherwise, approach will have to be different.
Comment:
TP 1: 170 has already been achieved.
TP 2: 165 is about to be achieved.
TP 3: 160 might be achieved as well but at that point trend will bounce back a bit back close to 170. Therefore, my trade follower should be cautious of this fact and if they want to go for a LONG trade then do set trigger point at 160 with TP at 170.
TP 2: 165 is about to be achieved.
TP 3: 160 might be achieved as well but at that point trend will bounce back a bit back close to 170. Therefore, my trade follower should be cautious of this fact and if they want to go for a LONG trade then do set trigger point at 160 with TP at 170.