Bearish shortfall found in channel pattern ready for breakout
Strong bearish channel found with a clear shortfall. This channel is about to burst and a breakout is imminent. Considering the bearish shortfall, a bearish outcome is more probable. Shorting here makes sense. Waiting until breakout is confirmed by a closing candle outside the channel is the prudent thing to do. Stop loss around 59.00. Expect a pullback/throwback after confirmation.
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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.