As explained, Glaxo is looking strong for a reversal near support trendline. Trendline breakout can be a beartrap.
RSI positive divergence in weekly TF is supporting the analysis. Best buy is near 1265 with SL below 1227 and target of 1345+.
However, this idea is shared just for educational purposes and not a recommendation.
Sorry for delay due to Net issues ( Uploading it 7th time hahaha )
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part...
Use this strategy strictly in weekly time frame and take your position only when you get confirmation of sell signal. You can short 1500-1540 strike price calls also time is on our side as well.
Thank you MALKAN SIR for this strategy
