Confluent reasons to be short.
1. Horizontal resistance. This is seen by the red box. We are being rejected by the previous lows.
2. 20 ema resistance. Price has been unable to break above it.
3. Top of the channel.
Stop loss above the 50 ema to protect us from any stop runs. Getting stopped out will likely be a sign of more bullish momentum to come.
1. Horizontal resistance. This is seen by the red box. We are being rejected by the previous lows.
2. 20 ema resistance. Price has been unable to break above it.
3. Top of the channel.
Stop loss above the 50 ema to protect us from any stop runs. Getting stopped out will likely be a sign of more bullish momentum to come.
Note
Rekt
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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.