Matic ranges here before either a break out or break down. Look at what happens at this pink line anytime we break below... We usually test resistance once before the bear flag breaks down or support before breaking out. This is likely headed down when you correlate it to RSI/AO/MACD and etc
Two ways to enter.
When macd is about to cross (on 4H), AO is red bearish and RSI is pointing down. Time it with support or from a point of resistance if you can. When MACD crosses on the 4H its usually a nice move down.. not easy, but doable if the stars align.
Or just enter on the retest of support turned resistance..
I am short on the near term, and longing from bottom of this range at the 75 range back to 80/90 range. We should have some nice swing trades for the next month or two, unless the market self destructs and then we have no idea what to expect. maybe sideways.
I recommend 2x leverage on this with tight stops L & S.
Good luck.
Two ways to enter.
When macd is about to cross (on 4H), AO is red bearish and RSI is pointing down. Time it with support or from a point of resistance if you can. When MACD crosses on the 4H its usually a nice move down.. not easy, but doable if the stars align.
Or just enter on the retest of support turned resistance..
I am short on the near term, and longing from bottom of this range at the 75 range back to 80/90 range. We should have some nice swing trades for the next month or two, unless the market self destructs and then we have no idea what to expect. maybe sideways.
I recommend 2x leverage on this with tight stops L & S.
Good luck.