63.5-64K for short entry

27 Haz

Morning guys,

In recent updates we've said a lot about overall situation and big picture with daily reverse H&S that is ready to fail, and probably will fail.

Today we could focus on particular trading setup that is based on recent market drop. This is DiNapoli B&B "Sell" trade, a.k.a "Momentum" trade. The background is simple - strong downside momentum on daily chart that should reverse any 1st pullback. Thus, we could use it to sell into.

By looking at 1H chart, it seems that 63.50-64K might be suitable for this purpose. Let's keep watching.