Price is coming to a strong level of resistance which has been respected on numerous occasions. As well as this, price has now formed a rising wedge which indicates that a drop will come very soon. Before taking this trade it is important to wait for confirmation, such as long wicks to the upside on a lower time frame which shows rejection in buying pressure. Good luck!
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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.