AUS200 - 4h - Cypher at strong daily resistance
AUS200 is currently ranging (last year or so). now that we pressed into the upper area again, we formed a cypher pattern that gives us a potential sell opportunity riding this thing down again (if you like).
how you wanna trade this is really up to you. you can go for an standard pattern sell with quick profits or you can use this as an entryreason to try to catch a bigger move down - or both.
keep in mind that if we would use a trendline(blue) instead of a horizontal zone we would be in breakout mode already, which would make quick profits more safe. but its not nessesarily a trendline that i would pay huge attention to as long as we dont also break the horizontal zone to the upside. that why - so far stil short bias
how you wanna trade this is really up to you. you can go for an standard pattern sell with quick profits or you can use this as an entryreason to try to catch a bigger move down - or both.
keep in mind that if we would use a trendline(blue) instead of a horizontal zone we would be in breakout mode already, which would make quick profits more safe. but its not nessesarily a trendline that i would pay huge attention to as long as we dont also break the horizontal zone to the upside. that why - so far stil short bias
Nota
daily picture for referenceNota
i took a quick 1:1 earlier for the full position. im not interested in holding a position for moth to come. but the market is currently sitting in a decission area, so keep an eye out for break to the down or to the upside
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.