After riding the pair from the swing low on last week impulses, now we are seeing a the buyers start to losing some steam after visiting the major resistance area, look for a high test candle closed before placing the short trade._________________________________________________________________________________________________________________________________________
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________
I liked this idea a lot. It inspired me to also go for the short position myself. I did add one more thing about the bearish divergence on the RSI.
I felt a little bit reluctant about going in for the short just based on the resistance zone here as it did break through already a little bit. What are your thoughts on that? Don't you think it went over a bit too high to still consider it as a position for a short?