Looking to add a short position. Pinpointed sell zone for a potential short trade in order to minimize risk. Price is likely to continue south without entering this zone. If price does enter this zone then i will look for price action on the lower time frames to indicate my entry and stop. If price goes above blue line then all short set ups void.
Price has broken the trendline and looks to be making a move long. Price has double bottomed and made a higher low on the last swing low and downward pressure looks to have slowed. Have positioned a very tight stop loss as i am expecting a sharp upward initial move. Risk:Reward 1:3 with take profit positioned at the next major resistance.