A trade AGAINST the DOWN TREND (Be careful).
The current DOWN MOVE on this index has started since 13 days with no signs yet appearing for the next UP MOVE. Accordingly, we are bearish on this pair back to the prior bottom and will take any reasonable upside pullback to sell.
However, RSI has moved so fast to the oversold territory and an UP MOVE up to the blue or green lines is very possible before starting with next DOWN MOVE to match with DOWN TREND. You have to understand that, in so many cases, market moves the opposite way after making an aggressive green or red daily candle.
For professional traders, they can trade the expected UP MOVE and for regular traders, they better to wait for the next DOWN MOVE.
MOVES Trading is a new strategy benefiting from both UP & DOWN MOVES with the ability to determine TOPS and BOTTOMS for each MOVE depending on moving averages, trend and price action.
The current DOWN MOVE on this index has started since 13 days with no signs yet appearing for the next UP MOVE. Accordingly, we are bearish on this pair back to the prior bottom and will take any reasonable upside pullback to sell.
However, RSI has moved so fast to the oversold territory and an UP MOVE up to the blue or green lines is very possible before starting with next DOWN MOVE to match with DOWN TREND. You have to understand that, in so many cases, market moves the opposite way after making an aggressive green or red daily candle.
For professional traders, they can trade the expected UP MOVE and for regular traders, they better to wait for the next DOWN MOVE.
MOVES Trading is a new strategy benefiting from both UP & DOWN MOVES with the ability to determine TOPS and BOTTOMS for each MOVE depending on moving averages, trend and price action.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.