Following breakdown from the long standing trend line, most people who have shorted have placed their SLs at the lower low above trendline. Idea is that price will try to claim those SLs and continue downward afterwards.
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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.