Reasons for Short and Setup:
1) Huge Bearish candle (on Daily) on Thursday and Gravestone Doji on Friday indicate trend continuation.
2) Trading below 20 and 50 EMAs.
Setup:
Entry: Can enter below 200.00 after breakdown with volume. Ideal entry 198.50
Stop Loss: Can keep at 204.00 - 204.50
Target: Can lookout for 190-189 depending on selling pressure. Adjust target accordingly.
1) Huge Bearish candle (on Daily) on Thursday and Gravestone Doji on Friday indicate trend continuation.
2) Trading below 20 and 50 EMAs.
Setup:
Entry: Can enter below 200.00 after breakdown with volume. Ideal entry 198.50
Stop Loss: Can keep at 204.00 - 204.50
Target: Can lookout for 190-189 depending on selling pressure. Adjust target accordingly.