Potential Short on UCAD (daily) , provided bearish confirmation.
Simple one legged move, bounce off 36 ema downwards.
Problem: Big area of demand/support awaiting which we have bounced off of multiple times, and we are shorting on a pullback near that zone.
If candlestick on monday is a healthy bearish stick, breaking and closing below 12ema, we can look for shorts, securing most profits at the previous demand/support area which we havent broken yet. If we break support too, trail the rest of the profits.
Recommended: HALF risk because price is constricted and showing a little stagnation (no more than 0.5% of account).
Simple price action: Indicators: EMA's (dynamic support/res for pullback trend trading AND Heiken Ashi for comforts of scalping.
Problem: Big area of demand/support awaiting which we have bounced off of multiple times, and we are shorting on a pullback near that zone.
If candlestick on monday is a healthy bearish stick, breaking and closing below 12ema, we can look for shorts, securing most profits at the previous demand/support area which we havent broken yet. If we break support too, trail the rest of the profits.
Recommended: HALF risk because price is constricted and showing a little stagnation (no more than 0.5% of account).
Simple price action: Indicators: EMA's (dynamic support/res for pullback trend trading AND Heiken Ashi for comforts of scalping.
Comment:
JUST AN OBSERVATION, NOT AN INVESTMENT OPPORTUNITY! RISK AT YOUR OWN DISCRETION!
Trade closed: target reached:
Hit TP 1.2643. Can leave 10% of your trade position to run down on break even if we break through support to target the next lows on daily/weekly chart.
TP2: TRAIL with suitable trailing indicators/trailing behind EMA (take 80%+ profits out at TP1).
SL: 1.2853 (Optional level).