IPCA LABS - Short Channel Setup

It is been observed that the price action is trending in a channel for a while and now it is currently ranging near the upper trendline of the channel or resistance levels where a pull back to other trendline or support can possibily be seen before a breakout on either side of the channel.

Other Indicators signalling Bearishness:
1. Macd Crossover
2. RSI Divergence

One can take a short positions with good risk reward as mentioned below;

Target: 570
Stoploss: 611
Risk Reward: 1:5

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