One strong reason for this trade is that the price clearly broke down from an inverted Cup and Handle pattern and confirmed the move with a small bearish flag, making this a high-probability trend continuation short setup. These patterns together signal strong bearish momentum and give a solid reason for entering a short position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.