It was rather slow trade. However, it was profitable. Entry at 282.9 and exit at 282.3. It is a very small gain. Exit decision was made as RSI was making higher lows in oversold zone and recent downtrend line was broken. I have considered failure swing in RSI as one of [...]
Short level has been moved up to 282.9. Nikkei extends losses to more than -300 points,12-min chart of Nikkei shows a failure swing of RSI indicator which support my bearish sentiment. SIMSCI has from a descending triangle again.
Short position of SIMSCI has been established after market reopen.
From the desk of Tradergav.com
It does not take a bachelor of science to understand that current market is in very negative sentiment. It looks like more than correction. Though I hesitate to say downtrend is in place. I am waiting for price setup to establish short position of SIMSCI.
I am looking at 282.4 [...]
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