Consider entering a short position if the price shows signs of rejection at the resistance area. This trade setup anticipates a move down towards the lower end of the channel, with a stop-loss above the resistance. Keep in mind that this is a short-term setup, and price action should confirm any entry.
This is a technical view and should be used alongside other analysis methods and risk management strategies.
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.