UPDATE #2: Stopped out with small loss.
UPDATE #1: Trade is active now.
Hello Traders,
Here we have a hidden BEARISH divergence that is giving us a nice shorting opportunity with very little stop loss and potential of high reward. The analysis is pretty simple, market is making LHs and LLs, signifying the continuation of the downward trend. Market has retraced back near the previous LH and due to the hidden divergence we do not have to risk a lot on this trade, which is why the stop loss is placed just above the recent lower high created by the market. See the chart for more details.
Note: The trade is NOT active yet. Pending orders have been placed.
Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
UPDATE #1: Trade is active now.
Hello Traders,
Here we have a hidden BEARISH divergence that is giving us a nice shorting opportunity with very little stop loss and potential of high reward. The analysis is pretty simple, market is making LHs and LLs, signifying the continuation of the downward trend. Market has retraced back near the previous LH and due to the hidden divergence we do not have to risk a lot on this trade, which is why the stop loss is placed just above the recent lower high created by the market. See the chart for more details.
Note: The trade is NOT active yet. Pending orders have been placed.
Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)