This is a similar set up to the one I posted recently. we have a descending channel. price is currently on a strong resistance area.
Reasons to consider entering on a sell:
1. Divergence on our RSI
2. Price hit off the trend line
3. market is currently in a downtrend
4. Some form of clear rejection of higher prices is forming
Make sure to do your own research before placing any trades and follow your trading plan and risk management rules.
Reasons to consider entering on a sell:
1. Divergence on our RSI
2. Price hit off the trend line
3. market is currently in a downtrend
4. Some form of clear rejection of higher prices is forming
Make sure to do your own research before placing any trades and follow your trading plan and risk management rules.
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.