13 Dec 21
Short bias down move
The price is within a range (1180-1380)in Higher time frames. But it is in short Bias week. The price on Friday, found support at the 08th Dec low, and went up to close above the Weekly open and also the MA.
Today, the price opened above the MA. Also, its down move. But seeing that the price has found the support around the 08 low and also the Friday close above the MA and weekly Open, I am a bit skeptical to go short straight away even though its short bias and down move. Also, the price is above the 1.1300 BRN. I will wait until I see the price close above the Friday High and retrace to the Weekly open or the 1.1300 BRN/Pivot/MA area for a long.
Why don't I go long straight away from MA? Its short bias, down move, MA is moving down. Also, I am not sure if the price will find sellers at the Friday high.
Why don't I short straight away since Price opened above the MA and its short bias and down move and MA is moving down? It is because, price found support at the 08 Dec, Poked that area but came back up and closed above the MA, 1.1300 BRN and also the weekly open on Friday. I believe there wont be enough RR for the trade.
Short bias down move
The price is within a range (1180-1380)in Higher time frames. But it is in short Bias week. The price on Friday, found support at the 08th Dec low, and went up to close above the Weekly open and also the MA.
Today, the price opened above the MA. Also, its down move. But seeing that the price has found the support around the 08 low and also the Friday close above the MA and weekly Open, I am a bit skeptical to go short straight away even though its short bias and down move. Also, the price is above the 1.1300 BRN. I will wait until I see the price close above the Friday High and retrace to the Weekly open or the 1.1300 BRN/Pivot/MA area for a long.
Why don't I go long straight away from MA? Its short bias, down move, MA is moving down. Also, I am not sure if the price will find sellers at the Friday high.
Why don't I short straight away since Price opened above the MA and its short bias and down move and MA is moving down? It is because, price found support at the 08 Dec, Poked that area but came back up and closed above the MA, 1.1300 BRN and also the weekly open on Friday. I believe there wont be enough RR for the trade.