The price is approaching the D point of a bearish Bat that is forming on the 4-hour chart. We are going to wait for the price to go through the Sell Area and, for extra security, we will go short the moment a 4Hour candle closes below the area.
The Stop Loss and Take Profits are placed near the points indicated on the chart. I suggest to take 50-60% of profits in TP1, to later move the Stop Loss to Breakeven and take the rest of profits in TP2. I will update it because depending on the movement of the price, TPs will have to be readjusted.
The RSI is already showing signs of oversold, and in lower time frames has already formed bearish divergences.
If you have any questions, do not be afraid to comment. See you!
The Stop Loss and Take Profits are placed near the points indicated on the chart. I suggest to take 50-60% of profits in TP1, to later move the Stop Loss to Breakeven and take the rest of profits in TP2. I will update it because depending on the movement of the price, TPs will have to be readjusted.
The RSI is already showing signs of oversold, and in lower time frames has already formed bearish divergences.
If you have any questions, do not be afraid to comment. See you!