Hi All,
We have a bearish descending triangle that has formed with next trend change due within the next 2 weeks.
Most of the signals here look bearish;
RSI is in bearish trend.
MACD looking to cross bearish.
Pattern is bearish.
RSI has not cross 55 mark since August of last year with down trend looking to continue.
Volume has increased however as the only somewhat positive sign, but would not call this a bullish stance.
Possible long option; Enter at clear break of 0.045. EXIT 0.055. Up to 22% Gain.
Possible short option; None, risk to reward ratio not positive.
Overall I would say there are probably better trades available in the market.
Let me know your thoughts,
Thanks all,
Trading Corner
**This is not financial advice, please act with due diligence when trading any market**
We have a bearish descending triangle that has formed with next trend change due within the next 2 weeks.
Most of the signals here look bearish;
RSI is in bearish trend.
MACD looking to cross bearish.
Pattern is bearish.
RSI has not cross 55 mark since August of last year with down trend looking to continue.
Volume has increased however as the only somewhat positive sign, but would not call this a bullish stance.
Possible long option; Enter at clear break of 0.045. EXIT 0.055. Up to 22% Gain.
Possible short option; None, risk to reward ratio not positive.
Overall I would say there are probably better trades available in the market.
Let me know your thoughts,
Thanks all,
Trading Corner
**This is not financial advice, please act with due diligence when trading any market**