With today’s Opening Range (whiter background) also holding resistance be careful about buying at this moment.
Daily Moving Averages (red,yellow, white lines) remain pointed downward which is on this 60 minute chart. As well the 14 day and 30 day Daily Moving
Average crossed the 50 day Daily Moving Average. This is on a longer term basis.
The action to take is to place sell stop entry at 16450 below the recent low, and if triggered place the stop loss and profit targets as stated below.
Note: this trade recommendation is good for today and will expire at UTC 0800.
Entry Price: 16450
Stop Loss: 17903
Profit Targets: First profit target 15450, 2nd profit target at 14450. Once first profit target is reached, bring stop loss to breakeven.