CAC:
Date: August 9, 2016
H4 chart: D1 и H4 long-term short trend
Price makes a lower peak for the 5th time in a row and a diagonal resistance. Combined with Fibo 50% from the long-term short trend, this can be a good place for short. Second try for a breakthrough. Horizontal resistance at 4490.
Price Action: Formation of a Doji candle - signal for a possible short
Алтернативен сценарий: Ако цената пробие нагоAlternative scenario: If the price makes a breakthrough upwards, above the diagonal resistance and Fibo 50%, this will break the bearish scenario. We can wait for a retests at the breakthrough for long.
Technical indicators:
DEM (14) - In overbought area, hasn't turned yet but the indicator is slower than the price.
Entry for short around the current levels with a relatively close stop loss but a more aggressive position.
SL: 4490.00
Jr. Trader - S. Fuchedzhiev
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