Trend: The overall trend is downwards as it is making a series of LL and LH according to DOW theory.
Reason for taking Short Position: A formation of the tweezer top at the LH of the chart indicates the price will move downwards from here and touch the bottom of LL.
TP1 is set to the LL of the chart where as TP2 is set to the next resistance level.
SL is placed as the LH of the chart.
Reason for taking Short Position: A formation of the tweezer top at the LH of the chart indicates the price will move downwards from here and touch the bottom of LL.
TP1 is set to the LL of the chart where as TP2 is set to the next resistance level.
SL is placed as the LH of the chart.
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