Since the change of control to supply happened about 2 weeks ago, we had a sharp drop where most us from Investribe managed to make profits off that move.
So what next?
As analysed yesterday, we've identified 2 CPSZs where we can plan our short trades to continue with the major downtrend. We're seeing rejection in the immediate CPSZ, with prices rejecting EXACTLY on our pivot. I currently have 2 trade plans; the first is to capture profits from here to our first resistance point. The next will be done only if the first succeeds and to short till the next pivot.
Wait for confirmation for entry. Happy Trading!
So what next?
As analysed yesterday, we've identified 2 CPSZs where we can plan our short trades to continue with the major downtrend. We're seeing rejection in the immediate CPSZ, with prices rejecting EXACTLY on our pivot. I currently have 2 trade plans; the first is to capture profits from here to our first resistance point. The next will be done only if the first succeeds and to short till the next pivot.
Wait for confirmation for entry. Happy Trading!
Trade closed: target reached
Comment:
3rd leg of downward move completed. That's a grand total of about 300 pips split into 3 trades. Next trade!